Regulations are, like many other forces, subject to forming equilibria. Too many, and you get EpiPen price gouging; not enough, and you get the melamine milk scandal[0].
I agree that creating monopolies and then fighting them with monopsonies is ridiculous, backwards, silly, and inefficient. But life is a coordination game[1], so too bad[2]!
I agree that creating monopolies and then fighting them with monopsonies is ridiculous, backwards, silly, and inefficient. But life is a coordination game[1], so too bad[2]!
[0] https://en.wikipedia.org/wiki/2008_Chinese_milk_scandal
[1] https://en.wikipedia.org/wiki/Coordination_game
[2] http://slatestarcodex.com/2014/07/30/meditations-on-moloch/