In my city, licensed autos all use the same meters and display their number prominently. And if I want to wait on line for a day to complain (Marathi only, no Hindi, no English, from what I'm told), maybe something will eventually be done. Sounds as effective as the Vegas regulatory system.
In theory a perfectly enforced set of perfect regulations might fix these issues. In practice the industries that regulators are deeply involved in controlling still seem to have these issues.
> In theory a perfectly enforced set of perfect regulations might fix these issues. In practice the industries that regulators are deeply involved in controlling still seem to have these issues.
In practice regulation as it's actually practised in e.g. Germany manages perfectly well. Sounds like your regulatory system has issues. Doesn't mean all regulation is fundamentally broken.
In theory a perfectly enforced set of perfect regulations might fix these issues. In practice the industries that regulators are deeply involved in controlling still seem to have these issues.