It doesn't take a Ph.D in psychology and/or economics to understand that the driving force of Capitalism is greed. Nor does it take a Ph.D in psychology to realize what greed unbounded can lead to if not kept in check by personal ethics (don't count on it) or external limits.

Capitalism is not all bad. Indeed, the promise of wealth and prosperity for the entrepreneur is a powerful motivation for the development of products and services in the first place, and their continued improvement. But history has more than amply demonstrated that Capitalism without reasonable restraints produces cut-throat competition, monopolies, cheating on product quality and safety, and on through a whole litany of evils including slavery, or at the very least, near-slavery. And cycles of "boom and bust."

Therefore, laws and regulations.

Don Firth