You&#x27;re confusing free market capitalism with &quot;perfectly competitive market&quot;.<p>Nowhere in the study of economics does it say that free market capitalism necessarily leads to all industries having multiple competing companies that drive prices down.<p>On a somewhat unrelated note, if history and human nature is any indicator, then we know that with an under-regulated market most industries will gravitate towards oligopolies with homogeneous product offerings, monopolies or cartels (colluding oligopolies)