Lots of innovation is missed out on because of lack of regulation. So this is not a good point. The EV and solar panel revolution was largely created due to reg

Lots of innovation is missed out on because of lack of regulation. So this is not a good point. The EV and solar panel revolution was largely created due to regulation. It is a very neoliberal view to think free markets are the only source of innovation and government is just standing in the way. Governments create lots of different incentives to foster innovation. Patents themselves are a government regulation meant to encourage innovation. Ironically companies have corrupt government to such a degree that patents today is often a hindrance to innovation. However well designed patent laws are likely better than no patent laws at all.