The history of the free market (to the extent that markets can truly be free) shows that your view in italics is not correct. Regulation has led to clean water

The history of the free market (to the extent that markets can truly be free) shows that your view in italics is not correct. Regulation has led to clean water standards, electrical wiring standards, safe working environments, etc. In countries where such standards don't exist or are loosely enforced one sees that mechanisms aren't developed to deal with these situations. Just look at China. Companies try to cut corners. They do it whenever they can get away from it. There are examples where companies don't cut corners but there are a plethora of examples to show that enough companies do cut corners that it is needed to have some regulations.