You could just as easily say that government causes 95% of monopolies. Regulatory compliance is almost universally a fixed cost to a business, and large fixed c

You could just as easily say that government causes 95% of monopolies. Regulatory compliance is almost universally a fixed cost to a business, and large fixed cost structures are the defining characteristic of a natural monopoly market. That's also the reason why small public IPOs disappeared after Sarbox...small corporations can't handle the cost of regulatory compliance. Regulation can prevent monopolies, but it can just as easily enable them. And lack of regulation can allow monopolies to form, but they can also allow markets to commoditize. Quality of regulation will always matter more than quantity.