> regulations exist because society has decided its interests are better served by making folks play by a certain set of rules than by hitting peak market effic

> regulations exist because society has decided its interests are better served by making folks play by a certain set of rules than by hitting peak market efficiency or whatever But society (and times) change. If there was a regulation that said 'the rightmost lane must always be reserved for horse-drawn carriages', we'd all be laughing about it.