It’s one thing to say that regulations add to costs and delays. That would seem to be true in most cases. But it’s quite another thing to decide not to take advantage of experienced and trained scientists and engineers who just might be able to prevent a disaster, and who know more than the “innovator” about the subject.
This would seem to be where the axiom of “rich does not equal smart judgement” comes into play. Proverbs had it right long ago. “Pride goeth before destruction”. And the Greeks knew all about hubris 2000 years ago.
