The Importance of Regulation in a Capitalist Society

In a capitalist system, there's no reason why you should end up with monopolies. There are some industries that are natural monopolies, for example, like local water utilities. To the extent of any industry is a natural monopoly, it should be regulated. But most industries don't fall into that category and I go through dozens of examples in the book where you have very high industrial concentration or tight oligopolies.