Regulation causes high costs when it artificially constrains a market to a small number of cronies. That's the problem with regulation. Regulation is great wh

Regulation causes high costs when it artificially constrains a market to a small number of cronies. That's the problem with regulation. Regulation is great when it's unbiased and not just a way to enrich cronies, and does what it's designed to do. It just seems that it's extremely rare to see such effective regulation in the US. In European countries, it seems to be far more common.