More Taleb.
He applies the principle of iatrogenics to regulation and the regulatory response to crisis, and I tend to agree. He says, you cannot do anything with knowledge unless you know where it stops, and the cost of using it. The call for more (unconditional) regulation of economic activity appears to be a normal response to crisis.
The problem with regulation in my mind is that it tends to only add to the existing body of regulation, when in fact what he is saying is the solution may require either less regulation or the addition of new regulations in conjunction with the stripping away of old regulations.
Given that we only "look through the glass darkly" ie. don't know the whole truth, and given the political systems and institutions in place, we are prone to only add new regulation when a problem arises.
Ultimately, the weight of an over-regulated edifice will come toppling down and we will break it all down and rebuild from scratch again.
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