I’m basically looking for an answer to this question from an Austrian perspective. I’m assuming it has to do with the level of government intervention?
Will someone kindly point me in the direction of a book or article to learn more?
What do you mean by the question “why does competition not work in America today?” What are your examples? In which sectors of the economy does competition not work?
I would say competition only works when you outlaw physical violence as a means of competing. Could be wrong about that though.
I guess I’m not pointing towards any specific sector but just in general. The reason I bring this up is because from what I understand, a lot of the monolithic corporations in America are able to maintain their position as top dogs solely because of their ability to lobby government for special privileges? Is this true?
Are you asking in terms of how via lobbying, select corporations and special interest groups create an unfair environment for competitors?
Yeah. I would just like to know more about this whole process. Does it really have a sizable impact on removing competition from the market? How big is it? Does it end at just lobbying? (that is the ability to favor one group over another artificially?) Or does this go deeper as in the example of revolving door politics?
This should help you out:
Protectionist Origins of Antitrust (by Thomas DiLorenzo)
http://www.youtube.com/watch?v=hMT_3kq15Yc
If you’re interested in how lobbying for government intervention is a major source of market restrictions, then I suggest you buy some books about public choice theory.