monopoly is the by-product of coercion, not Laissez-faire

In The "inevitability" planning, Hayek contends that:

"This conclusion is strongly supported by the historical order in which the decline of competition and the growth of monopoly manifested themselves in different countries. If they were the result of technological developments or a necessary product of the evolution of "capitalism," we should expect them to appear first in the countries with the most advanced economic system. In fact, they appeared first during the last third of the nineteenth century in what were then comparatively young industrial countries, the United States and Germany. In the latter country especially, which came to be regarded as the model country typifying the necessary evolution of capitalism, the growth of cartels and syndicates has since 1878 been systematically fostered by deliberate policy. Not only the instrument of protection but direct inducements and ultimately compulsion were used by the governments to further the creation of monopolies for the regulation of prices and sales. It was here that, with the help of the state, the first great experiment in "scientific planning" and "conscious organization of industry" led to the creation of giant monopolies, which were represented as inevitable growths fifty years before the same was done in Great Britain. It is largely due to the influence of German socialist theoreticians, particularly Sombart, generalizing from the experience of their country, that the inevitable development of the competitive system into "monopoly capitalism" became widely accepted. That in the United States a highly protectionist policy made a somewhat similar development possible seemed to confirm this generalization.The development of Germany, however, more than that of the United States, came to be regarded as representative of a universal tendency; and it became a commonplace to speak--to quote a widely read political essay of recent date--of "Germany where all the social and political forces of modern civilization have reached their most advanced form."

Obviously his argument is undoubtedly conclusive, the evolution of china's state-backed monopoly enterprises can also verify Hayek's proposition.