@Cycloptichorn,
Cycloptichorn wrote:
Not every decision is a great decision, and not every regulation is a valid or useful one. We don't live in a black and white world, Okie. But that doesn't mean that regulations are bad, or that we shouldn't have them. Currently, we have a long way to go when it comes to regulating our industry effectively, because there is still a hell of a lot of pollution and dumping going on, harmful to everyone, in the name of saving monies for producers - and to hell with anyone who doesn't like chemicals and toxins in their water and land.
Not an ideal situation.
Cycloptichorn
I generally agree with this statement. However, most folks are more aware of and more propagandized concerning the evils of unregulated activities than they are of the bad side effects of regulation.
For example, even industries and corporations that pollute the environment, produce things that people want and buy - a benefit that goes in the balance with the harm they may do. When such companies cease to competitively produce things people want, they go out of business and are eliminated, with or without regulation. Regulators and bureaucracies however, have the power of government and are generally self-perpetuating: their harmful side effects will continue even after the benefits they bring may cease.
The Medieval guilds initially benefitted everyone by bringing higher standards of training and quality to skilled trades, but eventually degenerated to trade monopolies that actively limited production and wealth for everyone until their power was broken by rising cities and industries.
The focus, energy, agility and creativeness of people trying to thwart regulations for their own economic benefit generally exceeds that of the bureaucrats trying to limit their behavior. Indeed many people and businesses co-opt the regulators by influencing the details of regulation to get themselves protection from their own competitors.
All of these factors should be considered by those contemplating the "perfection" of human life through more regulation. It remains a dymamic process, requiring both the creation of new regulations and the dismantling of old, ineffective or harmful ones, as well as careful scrutiny and action to limit the power of the regulators themselves. The basic fact remains that, in the long run, markets are better at self-regulation and adaptation to changing circumstances than top-down regulations. Both have harmful side effects, and the optimization of the two is, at best, uncertain and difficult.