Other than the principles of freedom at stake with regulatory overhauls by do-gooder politicians, there is another problem that Freidrich von Hayek described about regulation. A description of the Law of Unintended Consequences:
The law of unintended consequences is what happens when a simple system tries to regulate a complex system. The political system is simple, it operates with limited information (rational ignorance), short time horizons, low feedback, and poor and misaligned incentives. Society in contrast is a complex, evolving, high-feedback, incentive-driven system. When a simple system tries to regulate a complex system you often get unintended consequences.
Unintended consequences are not restricted to government regulation of society but can also happen when government tries to regulate other complex systems such as the ecosystem (e.g. fire prevention policy that reduces forest diversity and increases mass fires, dam building that destroys wet lands and makes floods more likely etc.) Unintended consequences can even happen in the attempted regulation of complex physical systems (here is a classic example involving turbulence).
One interesting dynamic of unintended consequences occurs when politicians attempt to regulate economic or social activity, bringing the opposite effects of those intended. This can be seen in welfarism (where welfare creates cyclical parasitism by which people are kept poor by the government incentivizing being poor), Fed-induced bubbles (where money put into the economy to prevent a crash only increases the size of that crash further down the road), and notably today, maternity leave laws. A thought stream of an entrepreneur in Hungary explains how laws that are intended to benefit women by ensuring they are given equal access to the jobs market through pregnancy ensures that women are discriminated against by job creators. If you are interested in sex and equality issues, this column is for you…