Hey George - Usually LCD failures (especially blinking like what you are seeing) are due to a capacitor or set of capacitors on the monitor's power board that have worn out. It's usually an easy fix by identifying and replacing the bad caps, but most people aren't comfortable with this type of repair themselves (nor do most people have a soldering iron). Sometimes people just replace the entire power board. You also may have had a power surge take out other components - obviously without examining your monitor there's no guarantee it's just a cap or two.
But if you don't own a soldering iron or if you aren't comfortable taking apart your monitor yourself, then decide if the monitor is worth fixing at a shop (or use your warranty if still applicable). If it isn't worth it, just recycle it and get a new one.