[Ajedi32]

It seems to me like we're mostly in agreement. I agree regulations can have compounding negative effects, though whether that's enough to account for a potential 2x improvement in overall economic output is something I would still dispute without any hard numbers to back up that claim.

I also think you've misunderstood my point about regulations. What I'm saying is that sometimes regulations can serve as a sort of "luxury good", where even if they're a net negative economically (like in your example of the uneconomical safety improvements) the quality of life benefits can still make them worth the cost in a society that's wealthy enough to absorb those costs.

I'm not saying that's always the case. Sometimes the costs clearly aren't worth it even factoring in subjective benefits. Just that its another thing to consider.

I also agree that there's probably a certain point where people would start to value their time more than what we today would consider "luxury goods". Just that that point is probably a lot further out than you might expect, because what's considered a luxury is relative to the cultural standards of the society you live in. Some people do chose to retire in their 30s, but I know a lot more people who didn't do that even though they probably could have.