Creating the opportunity for private companies to conduct military operations was a huge mistake.  Only states should have the right to engage in military operations, allowing for the creation of a market for military services always had the potential to bring down tumbling one of the walls that kept corporate power at bay.

Think about it this way. The UK and France spend about $70 billion each annually on military expenditures. Royal Dutch Shell brought in almost $460 billion last year.  If Royal Dutch Shell were allowed to purchase military services on an open market, spending only 15% of its annual revenues would match that, and rocket it past everyone but the United States ($663 billion) and China (~$100 billion).

Do we really want to live in a world where money can buy power like that?

Potentially even more disturbing than the international implications of private military markets, are what happens in the home market.  

At what point do the praetorians auction the empire?

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg