The best regulator is a consumer in a courtroom. The second best is an insurer.

The best regulator is a consumer in a courtroom. The second best is an insurer. The worse is the insurer of last resort (the state). But some things are of such consequence that the market cannot insure them.

That’s what the state does. And that’s all it’s competent to do. https://twitter.com/curtdoolittle/status/1323368003434696705