The arguments presented thus far are based on the assumption that the state has a monopoly on violence and PMCS's are extraneous to legitimate and effective forms of utilizing violence. (That is the impression I've gotten anyway)

That is true -currently PMC's are tools to be utilized by nation states, few others can afford or have a requirement for a brigade.

But if we look to the future we see current PMC's are innovators on the adoption curve because their target customer base is so small (marked in yellow). They've been at this stage for quite some time, but as this article illustrates, they're attempting to get better at what they do.



As the PMC market evolves we'll see the positive attributes Zenpundit highlights become points/areas of competition. (Marked in red)

The major impact made by private security market will come as the state evolves (market state, decentralization driven by security concerns etc), which will increase its customer base, amount of primary participants and
competition.

Just some food for thought. It is not my intention to hijack the thread.

Regards,
Shlok