[liara_k]

That's true in general now. Particularly in industries with high capital intensity, network effects, and/or monotonically increasing returns to scale. But that's a LOT of modern industries.

It wasn't always that way... or, at least, not for such a large proportion of the economy. The problem is that economic models and resulting policy is still based on assumptions that, due to technological change, no longer hold. The logic is usually sound, but the assumptions are ridiculous (see, e.g., abuse of the Coase Theorem).

It's far past time to re-evaluate this perspective, but we keep running into that Upton Sinclair quote: "It is difficult to get a man to understand something, when his salary depends on his not understanding it."