Look at the East India Company to see where the logic of market competition stops working, when the market is strangled by very few people into dominance.
You uh
You know that was a government-protected monopoly, right
Free markets are government-protected. Without government protection, you have the guy with the bigger guns making a monopoly. The East India Company dominated trade
across international borders, and that was enforced by armed might, not "government protection".
If you want a vision of what a pure non-government-intervention free market actually looks like, look at drug cartels. The threat of government fucking
you is the only thing that stops people from just shooting or blowing up their competition. Because you know that in a truly "free world" the person who shoots first wins.
In fact, in a city in India that sprang up basically without a government, what's forming is a
corporate monopoly "government" that runs everything, not a competitive market. Basically the company that you rent an apartment from has their own private police and fire, sewage. If you're not renting from them, you're fucked basically. Live in your own sewage, peasant. Also, live in everyone else's sewage because the company couldn't be fucked to put pipes in: they only care that the sewage is no longer on their property, so untreated sewage gets pumped into the closest river. John Stossel on FOX Business criticizes most of India for having too much red tape related to hygeine and safety regulations. Well ... there's a reason for that! Basically without any government control you end up living in corporate/monopoly controlled and owned gated communities, surrounded by a sewage moat.
We need elected government because without it, things devolve into a form of neo-feudalism where you have a small number of corporations controlling all land and running their own private armies to protect their interests.