And let me suggest the biggest driver of laws and regulations is the failure of what Adam Smith called moral sentiment: "Concern for our own happiness  recommends to us the virtue of prudence , concern for that of other people, the virtues of justice and beneficence  of which the one restrains us from hurting, the other prompts … (us) to promote that happiness." He believed we all carried an 'impartial spectator'.  "The impartial observer represents a consolidation of social values that forms a communal conscience to distinguish between acceptable and unacceptable behavior."

Yet we know from history that there are many who will degrade the environment, create risk and even directly harm others in pursuit of their own interest, particularly that thing called profit.

In the absence of an impartial spectator comes an all too visible regime of imposed law/regulation to manage risk and harm. If people and corporations did the right thing, there would be less need for laws and regulation.