> Regulations tend to favor incumbents, decreasing competition, and thereby increase monopoly and creating central hubs of systemic risk I realize that I've he

> Regulations tend to favor incumbents, decreasing competition, and thereby increase monopoly and creating central hubs of systemic risk I realize that I've heard that before, but what is that based on? > There is no free lunch with one-size-fits-all rule making. Unfortunately regulators think there is. I've never heard of regulators, at least in the U.S., not considering the cost of regulations. It would be hard to avoid in the legal rule-making process.