My point was that in certain markets unregulated competition will naturally lead to a monopoly. The technical term for this in microeconomics is "natural monopo

My point was that in certain markets unregulated competition will naturally lead to a monopoly. The technical term for this in microeconomics is "natural monopoly", and the explanation at the beginning of the Wikipedia article is actually pretty good. Without regulation monopolists can prevent the market entry of competitors and can extract excessive profits from consumers, to the detriment of society as a whole.