Frank Bennett on Nostr: Armchair q-backing ... I'd start w/q of whether security is a natural monopoly, and ...

Armchair q-backing ... I'd start w/q of whether security is a natural monopoly, and conclude not, b/c given non-zero possibility of accidents, scale of potential damage rises faster than efficiencies of scale. W/o regulatory constraints on concentration or on dissemination of a single firm's products, and given liability cutoff w/insolvency, firms have incentive to expand until social risk exceeds benefit. So I think you end up w/antitrust & regulatory policy at foundation.