More on free markets, monopolies and corporatism….
Statists just can’t help themselves falling into the trap where they imagine that a free market inevitably leads to monopolies.
It doesn’t. It’s a myth, a classic case of the intellectual inversion whereby the market is distorted due to state intervention, and the market is then blamed for the the resulting distortion.
True monopolies are creations of the state; there has been no company in history that has been able to maintain exclusive domain over production or provision of a given good or service without the assistance of the state. If true monopolies offend you, then it’s government intervention you should abhor. The state may establish its own monopolies, as with the pre-privatisation British Airways, British Telecom or the old agricultural marketing boards, where other parties are prohibited by law from entering the relevant field. The state may confer monopoly status on a chosen private firm by issuing a charter or an exclusive franchise (as with the post-privatisation British Airways, British Telecom….); or the state may boost favoured firms into positions of market dominance by means of subsidies, tariffs, quotas and other forms of artificial assistance and protection, which kill the competition that would keep corporations more honest.
That is a true coercive monopoly.
That is state capitalism.
That is what you should be angry about.