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How much Regulation is enough?

The question was raised: How much Regulation is enough?

Consider the socioeconomic responsibilities of corporations and the sociopolitical responsibilities of political officials we elect to serve our interest. We can all agree that the function of businesses is to provide goods and services to the public, and that the function of elected officials are to serve as custodians of power, we the people bestow upon them, to administer and manage public affairs, and to ensure a secure environment for businesses and individuals to interact and trade goods and services in the markets.

The public's demands for goods and services can only be reliable in an organized form of government preferably "Democracy" wherein elected officials empowered by the people serve as custodians to maintain enforcement of standards and regulations suitable for all to enjoy the pursuit of peace, happiness and prosperity. The equilibrium is established by the standard of living.