I think an under-appreciated effect of regulation is making participation in the market easier. I don't need to research the apple I'm buying at the store. I d

I think an under-appreciated effect of regulation is making participation in the market easier. I don't need to research the apple I'm buying at the store. I don't need to look into the company that certified its safety to ensure it's not captured by the very company producing/selling the apple, or that it's not the same company that had huge scandal last year but with a new name (to take the Anarcho-Libertarian idea that private companies would replace government regulators in certifying safety and quality). That huge time/money cost is just gone. Anything in the grocery store will be basically fine. I can just toss it in the cart without a thought. I might gain some benefit from researching the products there, but it will be marginal. I don't have to do that stuff to just probably not die of food poisoning. Same with car safety and any number of other things. Regulation ensures a baseline under which products will (generally) not drop, making it easier (cheaper) for buyers to spend. It reduces (consumer) overhead and greases wheels.