Official involvement looms at every stage, and may be wildly unpredictable. Even in formal rulemaking proceedings, agencies are notoriously oblivious to the general idea that they should do more good than harm. The problem is exacerbated a thousand-fold when agencies pressure the market to regulate itself. The result is the undertaking of massive, expensive regulatory programs that are little more than tokens of political concern. These systems, like the Comics Code, will tend to collapse and be forgotten in any sector where there is little consumer demand for the standard self-regulation supplies.
Simple deregulation is the best policy to support innovation.