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ost of the monopolies we deal with every day are based on physical barriers to competition. Households normally have only one choice of water or sewerage provider, and motorists have one choice of road network. No one is going to construct another set of roads for you to whizz about on. It is the same, to a lesser extent, with other kinds of services.
No one will have the chance to build another Heathrow, a big airport with two full-length runways, close to London and with good surface transport links. It is not a monopoly but its physical attributes make it the first choice for most business travellers.
There is one near-monopoly, however, with which most of us interact every day, perhaps every hour, often
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