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The original poster's argument was that state can, and ought to regulate, because it is exercisng its democratic pregotives. It assumed that such regulation is beneficial and just, because the people have so decided on that course of action.
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In a nutshell. Good summary.
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It hasn't been refuted because nobody makes that argument. The original post was pulling things out of thin air. Hence, my bafflement as to what she, or he, was going on and on about.
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Huh? You just said, in the last paragraph, that the poster made that argument. Now you say nobody made it?
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One can however, refute the assumption of the original post that regulation is the white horse and industry (corporations, business, capitalism, whatever) is the villain.
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That would be a classic strawman argument, though. So why bother?