each gov already has their own laws and they already have to abide by them. IIRC, in France they were ordered to allow someone to advertise on Adwords for example because they are a monopoly.
You need to read about what happened to Microsoft to better have an understanding, limits are placed on what they can do when it effects competition. Your idea works in theory, but not in reality. In the Wild West you mention, you could also shoot someone that you disliked, or burn their store down :).