> If you think this assumption leads to bad outcomes, pick up a tort law book and read the details of historical cases from when an 'anything goes' mentality wa

> If you think this assumption leads to bad outcomes, pick up a tort law book and read the details of historical cases from when an 'anything goes' mentality was predominant. I studied this to a non-trivial degree in college during undergrad, though of course not on the level of graduate economic theory or anything. My understanding is that the major markers (such as drug overdose) were at record lows following the Pure Food and Drug Act, a relatively non-intrusive measure that required labeling and some rudimentary testing and inspection, but preceding the FDA and drug prohibition and all the rest. This seems to comport with the world I watch around me. Am I wrong about this?