"Our economic system, we claim, is founded on free and fair competition. "
Who is "we"... only libertarian saps believe that kind of drivel. Real capitalism is all about building predatory monopolies and oligopolies. Only government can challenge the forces of (monopoly) capitalism... which is why David Rockefeller pulled von Hayek out of the gutter to lead a libertarian/ Randian attack on government when government was relatively neutral.
Since the Sixties however, monopoly capital has captured government agencies and turned them into personal enforcers.