> So perhaps it's not just competition, and we should give some credit to the regulation too. Or we could accept that "competition" doesn't just have to occur

> So perhaps it's not just competition, and we should give some credit to the regulation too. Or we could accept that "competition" doesn't just have to occur within a free market, and that a regulated market can be efficient while also accounting for externalities that a free market cannot. EDIT: to clarify, I am agreeing with you overall. I didn't mean my tone to come across as agressive, which re-reading it, I feel it does.