What is an example of something that is not self-regulated that was worked out well?
EU food industry works pretty well. Incidences of food-borne disease, contaminated food, etc are very rare, and you can generally trust the label says exactly what’s in the food with confidence.
The regulations themselves are very complex, change depending on new evidence, and include all sorts of rule changes for events that impact the food industry.
Don’t forget basically all science, most of the actual groundbreaking work is done using public funds; private interests only step and once the underlying theory is already proven.
EU food industry works pretty well. Incidences of food-borne disease, contaminated food, etc are very rare, and you can generally trust the label says exactly what’s in the food with confidence.
The regulations themselves are very complex, change depending on new evidence, and include all sorts of rule changes for events that impact the food industry.
Don’t forget basically all science, most of the actual groundbreaking work is done using public funds; private interests only step and once the underlying theory is already proven.
Proven profitable and exploitable