Progressives don't love regulation, but they also don't have a superstitious dread of it. Progressives want to use the right tool for the job. In some cases, th

Progressives don't love regulation, but they also don't have a superstitious dread of it. Progressives want to use the right tool for the job. In some cases, that is regulation. In particular, when the consequences of a decision cannot be internalized, so the pursuit of self-interest is not sufficient to produce societally optimal solutions, regulation can correct this market failure.