The Demand Side of the Law

Even at the micro level, and your point about macroeconomics is well taken, it's the things that make markets work so well. The innovation, the ideas, the marginal changes that we adopt in order to improve our own lot are the same reasons that rules typically often fail. That's an excellent point which I hadn't ever thought of before. What you're saying is that there's so to speak a demand side of the law. How the people impacted by the law behave, how they react.