With the global outbreak of coronavirus disease in early 2020, authorities in every country advocated wearing facemasks to control the spread of the virus. However, a shortage of facemasks hit Europe, the US, and Asia. Using facemasks in Taiwan—with a 23-million population, and fewer confirmed cases than in other countries, is common. The export ban, a name-based rationing system, and particularly the facemask monopoly scheme, was responsible for maintaining Taiwan’s relatively modest supply of facemasks in early February 2020. Taiwan also used this opportunity to establish a national industry, producing facemasks during an economic downturn. This study uses document analysis to examine the historical development of this facemask monopoly scheme and conducts an in-depth critical review of such schemes using an interdisciplinary approach. The key research question is whether such a facemask monopoly scheme is better than the free market regime worldwide in dealing with such a facemask shortage.