[atemerev]

Natural monopolies are OK, as long as they are not coercive (i.e. use laws, lobbying and other non-market means to cement their established position). Free market natural monopolies are usually short-lived — they might enjoy the economies of scale, but this advantage rapidly becomes offset by their bureaucratic inefficiencies.

When combined with coercive forces of the government, the ineffective monopoly might stay on the market much longer than can be warranted by competency only. Therefore, revolving door-type monopolies are bad and ought to be disrupted, including by legal means.

[progressive_dad]

When is lobbying appropriate in your view? Is it the responsibility of government to facilitate the opening of new markets, for instance? As with TTIP?

How do you square a free market with a global economy where free markets are not the norm? How do you compete with state owned and operated business? Do you let these companies participate in your free market?

Are there any other instances you can imagine besides preventing revolving door monopolies where regulation might be appropriate?

*Your ideas don't sound very different from the form of capitalism practiced in America today which is a pretty far cry from the extreme ideas about free-market libertarian ideals I'm used to from fans of Ayn Rand. What are some principles you find appealing in her writing?

[atemerev]

Lobbying is appropriate when it helps resolve market inefficiencies created by outdated legal quirks, not the other way around. I think the US approach is reasonable — lobbying should be legal, transparent, monitored and regulated. I can understand why it was decided this way.

> Is it the responsibility of government to facilitate the opening of new markets, for instance?

Technically, yes. However (under the current concept of sovereignty), some things can be obligatory in home territory but only "nice to have" abroad. Therefore, globally, it is more right than obligation (subject to costs-benefits analysis).

> As with TTIP?

I do not have enough expertise in international law and trade agreements to judge TTIP in its entirety. So far, I know that there are some good things there (steps to establish global markets operating transparently), and not so good things (mostly related to intellectual property laws, which are messed up).

> How do you square a free market with a global economy where free markets are not the norm?

With diplomatic and cultural efforts. Often it is enough to somehow show people that free market alternative exists. E.g. USSR was strictly controlling who could see what beyond its borders, otherwise it wouldn't survive that long.

> How do you compete with state owned and operated business? Do you let these companies participate in your free market?

It depends. If they are willing to participate on the same set of rules as everyone, and the government itself is not known for some atrocities, then yes, it will be allowed. Government business usually is not that efficient, and there is no coercion power beyond government's own domain.

> Are there any other instances you can imagine besides preventing revolving door monopolies where regulation might be appropriate?

Some. Ayn Rand wanted to abolish FDA and all healthcare-related regulations; I am not so sure about that (though these should be rooted from up-level laws preventing fraud in general). Some military-related stuff (you don't export arms to state enemies), etc.

Incidentally, all of this is strangely similar to the current US economic and foreign policy. I have to think more about that. I am not even American.