As soon one pushes the other off the top of the hill he will use every dirty trick in the book, and make up a few, to keep the other from getting back up. You say monopoly. When is it a monopoly and when is it not? What about unfair business practices? Flat tax code for businesses? etc, etc, etc. To say we are going to be "hands off" just means one has found a way to gouge the other under the table. What about worker/employee relations? Anything goes? We need to just admit it and work with it government and business are intertwined inexorably and to make the best of it is best for everyone. The more everyone's hands are on the table the better.
If the government, itself, wasn't just as corrupt as the "greedy" businesses that the left continually rails against then I might be willing to allow them some limited power in the corporate world but their powers would have be be strictly defined and kept in check. However, the government is likely the most corrupt organization in the USA so I see no reason to trust it to maintain "ethical standards" when it is so lacking where ethical standards are concerned.
The Justice Department? Corrupt.
The IRS? Corrupt.
Congress? Corrupt.
The Federal Judiciary? Corrupt.
The White House? Corrupt.
Bureau of Land Management? Corrupt.
The list goes on.