What do you think: is a monopoly ever a good thing?
Monopoly is an economic state in which a single person or entity is the sole owner of a particular commodity. In a monopoly there is no competition, there are no alternatives or substitutions, and prices are set by the owner – not by government interventions nor by supply and demand.
In his book Zero to One, Peter Thiel, an American entrepreneur, venture capitalist and philanthropist, best-known as a co-founder of PayPal, argues that competition is for losers and monopolies are good for BOTH the people running them AND for society.
But way back before then, in 1903, Elizabeth Magie, an outspoken feminist, engineer, inventor, writer and actress created a hugely popular and accessible way to demonstrate how unrestrained monopolies are destructive, and that an economic environment that rewards broad wealth creation is better. Yup. The game Monopoly.
You know… the board game in which players purchase properties and advance financial deals using imitation money… all in an effort to completely bankrupt their opponents. Who hasn’t played this iconic, never-ending game with family and friends, perhaps on a cold winter night or a rainy day at the cottage? And what family hasn’t devised their own set of evolving rules – what the Free Parking space really means, and what it takes to buy your way out of jail?
Anyone who has ever had a marathon game end in a frustrated board flip knows exactly how destructive monopolies can be.
Except this one: an up-and-coming Monopoly game that will be good for Ottawa.
My recent guest on I’m a Millionaire! So Now What? (listen to the episode here) is Scott McLaren, President of Festival Promotions and Co-Founder of Ottawa Monopoly.
Scott McLaren, who is a 2018 Ottawa Business Journal Forty under 40 recipient, is bringing Monopoly to Ottawa with a truly customized board approved by Hasbro.
It’s a dream he’s been working on for a while. The project is built on a sponsorship recovery basis, with all profits headed to three local charities: Ottawa Big Brothers & Big Sisters, Do It For Daron (a fund at the Royal Ottawa Foundation for Mental Health), and one youth-oriented cause, yet to be confirmed.
This is a Monopoly I can really get behind, especially the support for mental health – a cause that means a lot to me. Games are available for pre-sale online now, with delivery in time for the traditional holiday gift-giving season. Which reminds me— I need to scoop up my copy: https://monopolyottawa.com/products/official-monopoly-ottawa-board-game
Personally, I find credence in both monopolies and broad wealth creation – part of the reason I created the Roadmap to Real Riches: a path to personal wealth creation that honours your values and goals.
If you want to learn more about converting your business into a heap of value and your earnings into personal wealth, get a fresh perspective from a wealth management team focused on building financial strategies that optimize how you spend save & share your wealth. Contact us:
https://ca.rbcwealthmanagement.com/colleen.campbell/real-riches-roadmap.