Mostly agree! But! An important part of a monopoly is the ability to grant licenses on that monopoly, or letters of marque and reprisal, or charters or pass laws governing acceptable uses of violence by private citizens, and so on. Theoretically if Congress allowed it, private corporations could raise standing armies and navies, I just don’t think we or anyone in Congress would stand and suffer that blight on society.

In a way though, that’s what private security contractors are though, although their authority to engage in violence is legally limited.

Also it is important to note that such corporations as the Dutch East India Company operates their militaries outside and beyond the core jurisdiction, were and of their nations of origin. There was no contradiction of terms in subjugating and governing Indians and Javanese so long as they weren’t subjugating free Dutchmen.