Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.

Summary

This quote suggests that some exceptional entrepreneurs come to realize that while competition encourages wastefulness, forming a monopoly leads to efficiency. By acknowledging this, these businessmen aspire to establish and dominate a market where they are the sole providers. They recognize the advantages of having complete control over supply, pricing, and resources, which ultimately allows them to maximize profits and minimize resource allocation inefficiencies. This perspective highlights the strategic mindset of such individuals, who actively pursue the goal of attaining an effective monopoly as a means to optimize their business operations.

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