[vog]

I don't buy that argument.

If "customers and reputation" were sufficient, we wouldn't need regulations on the safety of e.g. medical stuff, food and cars. (And history, as well as comparison with other countries, confirms that we do need those.)

Whenever one needs to establish a minimum of quality (and this is what that's ultimatively about), establishing laws mostly works, while trusting the market mostly fails.

Markets are good at many things, but are really bad at establishing a minimum of quality (or provision with basic supplies, for that matter).