I'd like to say beforehand that my knowledge of Economics is limited and appologize if this sounds really silly, but I've had some thoughts about free market economy and more regulated economies.
The question that I have is that is it possible to have a complete, or close to, free market economy is small countries such as the current Republic of Armenia? My question does not consers the small scale businesses, but industries that require large companies and substential amount of resources to operate (e.g. telecommunications, large retail store chains, heavy metalurgical industries, etc.). Can a healthy competition exist in such industries in a small countries, where only a few, even if that many, companies will exist in each industry? Or eventually, in a short timeframe, it will turn into a monopoly? Or maybe it is better to have tightly controlled economy in those large industry spheres to ensure fair prices, growth, etc.?
The reason that I started thinking about this is, of course, ArmenTel. I was listening to the debate (arguement/exchange of insults/qfrtots?) between Arshak Sadoyan and the Minister of Justice David Harutyunian, as they were discussing whether ArmelTel should be disolved into mulitple companies to break the monopoly and lose the tight control that currently exist on it, or to keep it as is and keep enforcing the current and new regulations on it to avoid exploitations by ArmenTel.
What are your thoughts and suggesstions on ArmelTel in particular and this problem is general?