In the aftermath of Hurricane Sandy the loss of life and property highlighted that the proximity to water, which had once made New York City a global economic powerhouse had become a liability and preventative action would be required. Sandy’s destructive power can largely be attributed to a storm surge of about 9 ft.
Whereas trusts are illegal, the legality of monopolies is more nuanced. Having monopoly power is not in itself an antitrust violation, though it is a prerequisite for an antitrust charge. At the heart of the argument for the existence of monopolies is Judge Learned Hand’s view in the landmark case United States v. Alcoa: “The successful competitor, having been urged to compete, must not be turned upon when he wins.”