[QuantumChaos]

This article is shallow and misleading.

Economists do indeed have models of perfect competition, and perfect monopoly. But these are not the only concepts that economics has. For example, the market for pharmaceuticals is competitive ex ante, but monopolistic ex post. Anyone can choose to put research into developing a drug. But having discovered a particular drug, they have a monopoly over it.

Even though the monopoly is bad ex post, the promise of a monopoly is needed as an incentive to engage in productive activity ex ante. The same applies even more to company's like Apple and Google who maintain their monopoly by creating a unique product.

So the article is completely wrong when it says "To an economist, every monopoly looks the same, whether it deviously eliminates rivals, secures a license from the state or innovates its way to the top. I'm not interested in illegal bullies or government favorites"

Every kind of monopoly looks the same ex post, but monopolies achieved through innovation and monopolies achieved through bribery or favoritism are completely different ex ante. The first kind of monopoly incentivizes inventing new things. The second kind incentivizes unproductive activity such as bribery.