Exactly that, and how regulations are a sinking costs, at times for absurdly poor impact.
the solution is simple, shift the cost of compliance, onto regulators!
it would work like this:
1/ Somewhat competent but disconnected from reality politicians vote for adding yet another rule.
2/ Incompetent, disconnected from reality, so called Experts articulate how to implement the rule.
3/ Estimate costs and report back to clouded brains up there.
4/ Clouded brains but budget wise acute, look at the numbers, and say no way
I bet we would get regulations that would always be welcomed by industries.
We could start by rolling everything back, the "economy", you bet, would finally "recover".
Without incentive to make it right, it can't be a surprise you get what you seeded for.