Earlier quoted context omitted.
2) Monopolies usually form because of government failure, not because of free markets. What you state is true, but its only true because because its a means to an end: It is substantially easier to manipulate government into currying you favor, than it is to build innovation that sticks. The former is just dollars. The latter is dollars + sweat + luck. 1) OK. I challenge you to find a free market that has produced a…
1) "black market" drugs is pretty close to free-market. But it also gets "help" from the gov; being illegal creates interesting market forces. Also, the players are trying to corner the market in their territory (create a monopoly)
Except for that part about shooting one's competition and rampant fraud.