Defines & discusses types of monopolies, & uses AT&T as an example.
To understand the game Monopoly, one must first understand how Atlantic City came in to existence, since the game is modeled on Atlantic City and is based on the spirit of capitalism that helped create the city. Atlantic City was created as a destination city by Richard Osborne, using a plan created by Jonathan Pitney. The streets were to be named after the nation’s thirty-one states and its north-south avenues for oceans and seas, to envision the entire globe. (Orbanes, p.xvi). The most remarkable part about the scheme was that Atlantic City was created entirely as a resort destination; nothing existed there prior to it being offered up to investors as a resort. Despite that, Osborne managed to get thirty-eight subscribers to purchase 10,000 shares of stock in his railroad company, and Atlantic City was born. (Orbanes, p.xvi).