> One of the issues I see with this is that the free market encourages companies to try to become a monopoly/oligopoly, because it's the only way to sustain profits in the normal idealized market models.
The idealized market models are models. It doesn't work like that in real life.
Example: McDonald's. They have all the competition in the world. Restaurants are one of the closest markets to idealized perfect competition there is. But McDonald's still makes plenty of money. Because as close as restaurants are to the ideal, the ideal doesn't actually happen in real life.
Coca Cola, Nike, Toyota, Starbucks. These are all multi-billion dollar companies with nothing even resembling a monopoly.
The idealized market models are models. It doesn't work like that in real life.
Example: McDonald's. They have all the competition in the world. Restaurants are one of the closest markets to idealized perfect competition there is. But McDonald's still makes plenty of money. Because as close as restaurants are to the ideal, the ideal doesn't actually happen in real life.
Coca Cola, Nike, Toyota, Starbucks. These are all multi-billion dollar companies with nothing even resembling a monopoly.