> Whatever those advocates claimed, it doesn't seem very relevant to deciding with or not a particular regulation is a good idea.
I don't see why not. The whole point of regulations is to regulate, i.e., to keep the regulated activity within some particular bounds. If the regulation won't accomplish that, then it is pointless. Unless, of course, the actual purpose of the regulation is not the same as the purpose that is publicly stated--which is exactly what happens with regulatory capture.
I don't see why not. The whole point of regulations is to regulate, i.e., to keep the regulated activity within some particular bounds. If the regulation won't accomplish that, then it is pointless. Unless, of course, the actual purpose of the regulation is not the same as the purpose that is publicly stated--which is exactly what happens with regulatory capture.