ERICKSON: The Olympics Monopoly

This is the first time I can remember an Olympic Games with so little media conversation around it. With the exception of the Simone Biles incident, people seem less inclined to pay attention. Advertisers are fretting as well that attention has declined and viewership is down.

One of the natures of a monopoly is there is very little incentive to provide a great product at a low price. It is a reason government-run entities tend to come in overbudget with a worse product than private sector entities. With no competition, there is no reason to innovate, improve or seek efficiencies.