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> I think ideally you would have as little regulation as possible and inspectors + fines for highly critical stuff, so courts and consumers will not have to deal with this at all.
I agree that that as little regulation as possible would be better, simply because regulation generally seems to also create perverse incentives, so when you can incentivize the behavior you want without it you are probably better off. Unfortunately, fine and inspectors are regulation. They make sense in some areas (such as food and building inspection), but I don't think it's feasible to expect that to work for every type of problem, for every type of industry, when we don't even know everywhere they would be useful now, much less the future. So, we have class-actions as a fail-safe.
Clicking on the perma-link to the comment in question will generally allow replying. It's a soft limitation.
> I think ideally you would have as little regulation as possible and inspectors + fines for highly critical stuff, so courts and consumers will not have to deal with this at all.
I agree that that as little regulation as possible would be better, simply because regulation generally seems to also create perverse incentives, so when you can incentivize the behavior you want without it you are probably better off. Unfortunately, fine and inspectors are regulation. They make sense in some areas (such as food and building inspection), but I don't think it's feasible to expect that to work for every type of problem, for every type of industry, when we don't even know everywhere they would be useful now, much less the future. So, we have class-actions as a fail-safe.