You're missing a key distinction. Credit cards have now all but taken the place of currency. Currency is the foundation of the economy and hence competition.

Even conservatives (probably even libertarians) agree that there are some goods and services that must be provided to everyone. The electricity company may be private (most are) but they cannot shut off your power because they don't like your thinking. That would destroy true competition by favoring some over others.

So there is a fundamental distinction between regulating the FOUNDATIONS of competition (electricity, water, currency, phone service) and regulating the outputs. Some businesses end up providing such essential services and we have special rules for them (common carrier being the most obvious). That is entirely compatible with the conservative position.

The difference (classically at least before the world went nuts) is that conservatives place a heavy presumption against regulation, whereas liberals sought it as a first line of attack. Conservatives don't want to regulate Visa or Twitter, but when it is obvious they are providers of services that underlie a competitive marketplace AND the companies have engaged in blatant discrimination/favoritism, there is not much choice.

You're missing a key distinction. Credit cards have now all but taken the place of currency. Currency is the foundation of the economy and hence competition.

Even conservatives (probably even libertarians) agree that there are some goods and services that must be provided to everyone. The electricity company may be private (most are) but they cannot shut off your power because they don't like your thinking. That would destroy true competition by favoring some over others.

So there is a fundamental distinction between regulating the FOUNDATIONS of competition (electricity, water, currency, phone service) and regulating the outputs. Some businesses end up providing such essential services and we have special rules for them (common carrier being the most obvious). That is entirely compatible with the conservative position.

The difference (classically at least before the world went nuts) is that conservatives place a heavy presumption against regulation, whereas liberals sought it as a first line of attack. Conservatives don't want to regulate Visa or Twitter, but when it is obvious they are using their position as providers of services that underlie a competitive marketplace AND the companies have engaged in blatant discrimination/favoritism, there is not much choice.