Comment by nickpp

> Actually, in the real world, the worst markets are also the strongest regulated: housing, education and health care.

> Meanwhile the fields that got to be regulated last brought us the most wealth, advances and innovation: high tech & software.

Financial markets are highly regulated. They are one of the most structured markets out there.

The outcomes in all those markets, whether they are good or bad, is a direct result of how the markets are structured.

The 2008 financial crisis, for example, was a direct result of regulators being defanged and underfunded for multiple years.

If you look at technology: innovation amazing in the era of unlimited horizons, the era of "move fast and break things."

However, the cost of externalities from inventions like social media, were not captured in that market structure. This means that firms can absolutely pollute or addict people in the information economy, capturing the profit but socializing the costs.

The ability of dominant players to consume/acquihire upstarts and keep their market position, is a drag on innovation and consumer outcomes today.

The situation that was faced in the early days of a new technology is different than what is faced in its maturity, when the advantages of the nimble upstart give way to the massive overlord.

At each stage, you have to craft the incentives and rules to ensure you achieve the outcomes you (as a nation) actually priortize.