You're right there, free markets take while to break monopolies. Time is a price we have to pay.
Because the alternative, govt intervention, in the long term is much more expensive: it corrupts the market and impedes the natural mechanisms from working. Interventions beget interventions.
This leads to heavily regulated markets, where the biggest players buy themselves monopolies. Exactly what we were running away from. :)
By which you mean that time is a price you think we ought to pay. I mean, we do actually have options.
Because the alternative, govt intervention, in the long term is much more expensive: it corrupts the market and impedes the natural mechanisms from working. Interventions beget interventions.
I struggle to come up with any example anywhere, where this is true.
This leads to heavily regulated markets, where the biggest players buy themselves monopolies
I don’t see how that follows from your previous paragraph. But never mind, I get what you are trying to say, and I agree that there are plenty of examples all over the world of regulation that has the effect you describe. Sometimes simply because it’s bad regulation. But other times because it’s a worthwhile trade off. I bet you don’t mind the pharmaceutical industry being regulated. Or how about the aircraft industry. Even taxi medallions serve(d) a purpose.
Because the alternative, govt intervention, in the long term is much more expensive: it corrupts the market and impedes the natural mechanisms from working. Interventions beget interventions.
This leads to heavily regulated markets, where the biggest players buy themselves monopolies. Exactly what we were running away from. :)