Proper cost attribution of externalities could provide an alternative to regulation... unfortunately the only way we currently have to measure these externaliti

Proper cost attribution of externalities could provide an alternative to regulation... unfortunately the only way we currently have to measure these externalities is regulation. Directly regulating the bad outcome instead of the externalities that contribute to it is less likely to lead to misaligned economic incentives. Regulation is not a bad thing - though within the US a fair amount of regulations were constructed to increase the barrier to enter a market at the behest of lobbying.