You can serve your customers and make a profit either way because you have effectively a monopoly. In the example of social media, you see FB now open and even

You can serve your customers and make a profit either way because you have effectively a monopoly. In the example of social media, you see FB now open and even advocating the government regulate social media - because it only makes it that much harder for the new guy to jump through the hoops whereas FB is already at more than critical mass. I think your second point is overly simplifying a lot of complexity. I agree that government has this coercive function... However, it’s also true that unchecked private enterprise ends up influencing that government to meet their own special interests. You want to promote the former, but the former ends up making the large campaign contributions so they can have legislation written in their favor... laws that apply to the common person don’t apply to these big corporations. Hence, we socialize losses but privatize profits. The fat cats go to prisons (if ever) that are potentially comparable to high end hotels, nicer than the homes of many ordinary citizens.