Comment by m101

Couple comments having read gist of comments here:

1) It's not about bad regulation either: it may be impossible to design good regulation

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." - Friedrich Hayek

2) Everyone agrees that controlling bad externalities is good. The point is at what cost?

3) Regulation isn't the only answer to things. Perhaps the issue is private property isn't properly enforced? Perhaps things could be solved through insurance schemes? There are many complex systems that have been solved without the use of government mandated regulation