> A major problem is that regulatory capture leads to less competition, yet the common solution proposed is "more regulation/government"
Neither "regulation" nor "government" are single dimensional quantities that can be compared with a simple "more" or "less".
Having regulatory agencies act in the public interest is probably going to require constant oversight and guidance. It's a hell of a lot harder to have conversations like that when more than half of the political influence in the US is able to dismiss any suggestions with reflexive "more regulation = bad" arguments.
Some regulations decrease competition. Some regulations increase competition. Some regulations provide incentives aligned with the public interest. Some regulations don't. They need to be evaluated on a case by case basis.
Neither "regulation" nor "government" are single dimensional quantities that can be compared with a simple "more" or "less".
Having regulatory agencies act in the public interest is probably going to require constant oversight and guidance. It's a hell of a lot harder to have conversations like that when more than half of the political influence in the US is able to dismiss any suggestions with reflexive "more regulation = bad" arguments.
Some regulations decrease competition. Some regulations increase competition. Some regulations provide incentives aligned with the public interest. Some regulations don't. They need to be evaluated on a case by case basis.