Earlier quoted context omitted.
>than this will occur and generate a positive feedback loop that grows over time. And despite this, modern life is made possible by the illusion that "regulations" work..
Regulations can and do work, but its never a 'one and done' kind of solution because people find workarounds and loopholes. It requires a unceasing effort to maintain the balance.
That is what I meant when I said it does not work.