Regulate the State

Sometimes an organization has overwhelming power.  “If you don’t like it, go elsewhere” isn’t a serious remedy; it’s a thinly-veiled order to shut up and submit.  In such cases, we should seriously consider breaking the overpowered organization into smaller parts to restore competition.  Until competition returns, however, regulation is a helpful stopgap.  Just because you own an essential resource doesn’t entitle you to use it however you please.

And that’s why governments should be strictly...