Video: Should Governments Regulate and Intervene to Correct "Market Failures?"

In the following video, Professor Steve Horwitz at the Foundation for Economic Education explains the dynamics of regulations and interventions in the marketplace

"What regulation and intervention do is prevent markets from discovering new ways of solving existing problems and new ways of solving new problems. When regulation erects barriers to entry or other kinds of limits on market behavior, it cuts short this discovery process, and that leads to inefficiency and waste of resources."