These government monopolies didn’t always exist - the Pony Express was a private company and private banks used to issue their own paper money - but they are now mandated by law and taken for granted by most Americans. So is the allocation of broadcast frequencies on the electromagnetic spectrum. The granting of patents and trademarks is another area in which the feds have a monopoly. Through the US Postal Service, the federal government has the exclusive right to deliver (and charge for) first-class mail. For instance, only the Bureau of Engraving and Printing may print paper currency and only the US Mint may produce coins for use as legal tender. There is no more powerful monopolist in America today than the US government.Įxamples of Washington’s monopoly power abound.
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