monopolism: meaning, definition, pronunciation and examples
C1Formal, Academic, Economic/Political discourse
Quick answer
What does “monopolism” mean?
The policy or practice of having exclusive control over a commodity or service in a particular market.
Audio
Pronunciation
Definition
Meaning and Definition
The policy or practice of having exclusive control over a commodity or service in a particular market.
An economic and political system or tendency characterized by the dominance of monopolies; the concentration of economic power in the hands of a few large companies or trusts, often leading to reduced competition.
Dialectal Variation
British vs American Usage
Differences
No significant spelling or meaning differences. The term is used identically in both varieties.
Connotations
Equally carries negative connotations of anti-competitive practices and market distortion in both varieties.
Frequency
Low-frequency academic/economic term in both regions; slightly more common in American discourse due to its historical use in critiquing 'trusts' and later corporate power.
Grammar
How to Use “monopolism” in a Sentence
The [noun] led to accusations of monopolism.They fought against the rise of [adj] monopolism.Monopolism in the [industry] sector is a concern.Vocabulary
Collocations
Examples
Examples of “monopolism” in a Sentence
verb
British English
- The industry was accused of seeking to monopolise, leading to charges of monopolism.
- Efforts to monopolise the trade were seen as blatant monopolism.
American English
- The company was found guilty of attempting to monopolize, a clear case of monopolism.
- Their strategy to monopolize the market was textbook monopolism.
adverb
British English
- The market functioned monopolistically, a sign of entrenched monopolism.
American English
- The corporation acted monopolistically, which critics labelled as monopolism.
adjective
British English
- The monopolistic practices were evidence of a broader monopolism.
- We are studying the monopolistic tendencies of late capitalism, or monopolism.
American English
- The monopolistic behavior fueled fears of digital monopolism.
- A monopolistic market structure is the foundation of monopolism.
Usage
Meaning in Context
Business
Used critically to describe a market environment dominated by one or a few players, stifling innovation and choice. 'Investors were wary of the sector due to creeping monopolism.'
Academic
Used in economics, political science, and history to analyze market structures, capitalist development, or socialist state control. 'Lenin's theory of imperialism centered on the role of monopolism.'
Everyday
Rarely used in casual conversation. Might appear in opinion pieces or news about big tech or utilities. 'People are complaining about the monopolism of the big streaming services.'
Technical
A precise term in economic theory and competition law to denote a systemic condition of monopoly, as opposed to a single monopolistic firm.
Vocabulary
Synonyms of “monopolism”
Strong
Neutral
Weak
Vocabulary
Antonyms of “monopolism”
Watch out
Common Mistakes When Using “monopolism”
- Confusing 'monopolism' (the system) with 'monopoly' (the specific company or situation).
- Using it as a countable noun (e.g., 'a monopolism') – it is generally uncountable.
- Misspelling as 'monopolysm'.
FAQ
Frequently Asked Questions
'Monopoly' refers to a specific situation where one entity has exclusive control (e.g., 'The company has a monopoly on operating systems'). 'Monopolism' is the broader system, practice, or trend of having such monopolies dominate an economy or sector (e.g., 'The era was characterized by industrial monopolism').
No, it is a mid-to-low frequency word used primarily in formal, academic, economic, or political contexts. In everyday language, people are more likely to say 'monopoly power' or 'lack of competition'.
No. While often used for corporate dominance, it can also refer to state monopolism, where a government holds exclusive control over certain industries or services.
It is a noun, specifically an uncountable noun (mass noun).
The policy or practice of having exclusive control over a commodity or service in a particular market.
Monopolism is usually formal, academic, economic/political discourse in register.
Monopolism: in British English it is pronounced /məˈnɒp.ə.lɪ.zəm/, and in American English it is pronounced /məˈnɑː.pə.lɪ.zəm/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “The tentacles of monopolism”
Learning
Memory Aids
Mnemonic
Think: MONO (one) + POL (to sell) + ISM (system). It's the *system* where only 'one sells'.
Conceptual Metaphor
MARKET AS A BATTLEFIELD (monopolism is the conquest/domination), MARKET AS AN ORGANISM (monopolism is a cancer/growth that chokes healthy competition).
Practice
Quiz
Which of the following is the BEST definition of 'monopolism'?