Incursion:
You bring up a really interesting question with the issue of "monopoly."
As the bane of any kind of socialism or communism is the "free rider" syndrome and the consequent general decline of productivity across the board, the bane of unadulterated capitalism is monopoly (or oligapoly in a slightly different form).
Given no anti-trust regulation of any kind, firms (in a particular industry, let's say) would be rationally more likely to combine and dominate (price-fix) the market, rather than compete, as the former is more profitable than the latter.
Some argue that eventually even monopolies or oligapolies would be brought down by a new, innovative force in the market. But that assumes that the barrier (or cost) to entry is low. Unfortunately, absent of any anti-trust regulation, the monopoly is likely to set the barrier to entry extremely high, in effect stifling any competition.
That is not to say that the anti-trust regulation needs to be overwhelming, as the case may be in many instances in the US.
Skorzeny
You bring up a really interesting question with the issue of "monopoly."
As the bane of any kind of socialism or communism is the "free rider" syndrome and the consequent general decline of productivity across the board, the bane of unadulterated capitalism is monopoly (or oligapoly in a slightly different form).
Given no anti-trust regulation of any kind, firms (in a particular industry, let's say) would be rationally more likely to combine and dominate (price-fix) the market, rather than compete, as the former is more profitable than the latter.
Some argue that eventually even monopolies or oligapolies would be brought down by a new, innovative force in the market. But that assumes that the barrier (or cost) to entry is low. Unfortunately, absent of any anti-trust regulation, the monopoly is likely to set the barrier to entry extremely high, in effect stifling any competition.
That is not to say that the anti-trust regulation needs to be overwhelming, as the case may be in many instances in the US.
Skorzeny