The definition of a monopoly (and therefore of competition) in traditional economic theory is arbitrary. And there are many reasons why big companies with little "competition" are beneficial.
Pascal Salin
Pascal Salin is the author of eleven books, dozens of scholarly papers, and hundreds of articles in which he explains and develops economic science and courageously advocates individual liberty. See Jörg Guido Hülsmann’s “Pascal Salin: Gentleman, Economist, Radical.”
