[jwmcq]

Okay, I'll give you that. Let me rephrase: Industry-led regulation can work, in industries that won't kill anyone or even realistically lose anyone a bunch of money for non-compliance, if-and-only-if government regulation exists as a real and powerful enough alternative to make it stick.

[gavinhoward]

Yes, but if we already have regulations, governments may be lazy enough to simply put force of law behind our regulations.