Pre Regulated

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“With five thousand wild bronco entrepreneurs and only six bureaucrats trying to put a bit and bridle on them, it takes a while. And when it does happen, it is usually because some of the more successful entrepreneurs want to keep others from doing the same thing because that might bring them the nuisance of additional competition. But before this happens, there is a delightful pandemonium” (5 Cities, p. 173)

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