Nostalgia and a reflexive preference for the status quo are the worst vices of regulating any evolving market, especially high-tech ones.

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In sum, the FCC should publicly state that it has no interest in micromanaging or micro-regulating the wireless market to literally an inch of its life by applying nonsensical, Lilliputian-esque, net neutrality obligations on one-inch-range Near Field Communications that involve no wireless network at all.

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Mainstream Islamists, such as the economy minister, Abdullah Shamia, speak not of imposing Islamic law but of respecting contracts with foreign oil companies, diversifying the economy away from oil dependence, wooing investment, and regulating the labour market to block a new influx of migrant workers seeking passage to Europe.

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The whole incident acts as a stark reminder of the difficulty of regulating fairness in a free market.

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Labour has announced plans to get rid of the body charged with protecting consumer rights and regulating the gas and electricity market.

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Thus, the decline in unionization shows that regulating fairness is ineffective when the global labor market necessarily allocates labor based on efficiency.

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The biotech industry is also vulnerable to the charge that it tried to force-feed the market by flooding Europe with so much modified soya as to make regulating it impossible.

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"That would be regulating at the point of purchase, " when individuals would be voluntarily entering the health-care market, Mr. Clement said.

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