Yeah that’s basically right. The idea is that a monopoly represents a market failure in the technical sense–it’s a condition in which the free market is failing to efficiently allocate resources. It’s basically an article of faith for these guys that all market failures are the result of distortions caused by government interference into market functioning, since they think that by definition free markets always allocate goods and services in the maximally efficient way. Therefore, if you get rid of government, there will be no distortions, and thus no monopoly (or other market failures). They think that if a monopoly ever started to form in the absence of a government, a scrappy young entrepreneur would just found a company to outcompete the monopolist.
Yeah that’s basically right. The idea is that a monopoly represents a market failure in the technical sense–it’s a condition in which the free market is failing to efficiently allocate resources. It’s basically an article of faith for these guys that all market failures are the result of distortions caused by government interference into market functioning, since they think that by definition free markets always allocate goods and services in the maximally efficient way. Therefore, if you get rid of government, there will be no distortions, and thus no monopoly (or other market failures). They think that if a monopoly ever started to form in the absence of a government, a scrappy young entrepreneur would just found a company to outcompete the monopolist.