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{
    "id": 1052355,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1052355/?format=api",
    "text_counter": 44,
    "type": "speech",
    "speaker_name": "Tetu, JP",
    "speaker_title": "Hon. James Gichuhi",
    "speaker": {
        "id": 13490,
        "legal_name": "James Gichuhi Mwangi",
        "slug": "james-gichuhi-mwangi"
    },
    "content": "especially price fixing. Since they are the only providers, they can choose to set any price regardless of the demand because they know their customers do not have a choice. They can inflate prices for lack of competition. We can discuss the issue of declining product quality. A monopoly cannot only raise prices, but it can also offer inferior services. It knows that the residents have fewer or no alternatives. A study was done by the National Bureau of Economic Research in the USA that found out that businesses have invested less than expected since the year 2000 due to decline in competition. So, this may lead to loss of innovation. Monopolies lose any incentive to innovate or provide new or improved products. When other companies are given a facility at the Port of Mombasa, we will have increased collection of revenue. Currently, we know that our economy is doing badly. The Port of Mombasa is one facility that generates a lot of revenue for this country. For that reason, we may say that monopolies cause inflation. They can set prices as they want and raise costs to consumers. With those few remarks, I support this Motion. Thank you."
}