> No, we have a problem where 95% of regulations work so well that no one even remembers that they exist (child labor, etc).

This is quite false. There are a few regulations that have a high cost/benefit ratio (e.g. ban leaded gasoline), and a few that are completely upside down (e.g. DMCA 1201), and then there are the vast majority which are the regulatory bureaucrat equivalent of busy work and are neutral at best. Positions exist to make new regulations, so they make new regulations.

But each new one has overhead, and then we get cost disease and high cost of living and increased market consolidation because regulatory compliance is a fixed cost that large corporations can bear more easily than smaller companies, and the complexity is used to disguise corruption. All of that is legitimately bad.

90% of them are completely worthless, and it's a significant problem that we have an apparatus structured to perpetually accumulate new ones without ever going back and cleaning house to remove the ones that can't be justified.