The entry of competitors into the market has reduced the control of monopolies, which in turn has generated pressure on prices. Notable economists, such as Jean Tirole and Francis Fukuyama, have addressed the negative impact of private monopolies on the development of a country, mentioning Carlos Slim's case as an example of the consequences of a private monopoly.
In his book "Liberalism and Its Discontents," Fukuyama warns about the dangers of taking neoliberal programs to the extreme, turning market efficiency into a kind of religion opposed to state intervention. The case of the privatization of Telmex is mentioned, where a public monopoly was transformed into a private one, facilitating Carlos Slim's fortune.
In a study conducted in 2011 by former Secretary of Finance Carlos Urzúa, the impact of quasi-monopolies on Mexican households of different income levels was evaluated, using Carlos Slim as an example of a businessman benefiting from the lack of competition. Notable economists, such as Philippe Aghion and Jean Tirole, have agreed in labeling the operation as a case of 'crony capitalism,' highlighting the inequalities generated by monopolies.
Jean Tirole, Nobel Prize winner in Economics, differentiates between wealth generated through innovation and value creation for society, and that which comes from rent extraction, pointing out that a monopoly can lead to underconsumption and a decrease in the purchasing power of citizens. Other economists, such as James A. Robinson, Daron Acemoğlu, and Simon Johnson, authors of "Why Nations Fail," have referenced the strategies used by Carlos Slim to acquire Telmex, highlighting the negative impact on the social well-being of Mexican households.
