Do the pros of regulation outweigh the cons?

It depends on what is being regulated and the extent of the regulation. Government regulation is generally well-intentioned and instituted in response to hazards to the public or egregious behavior. In most cases, regulation is effective at eliminating the problems to which it originally applied. However, regulating agencies have an innate tendency to be self-perpetuating and expansive. Regulating agencies invariably form departments or committees whose purpose is to continually devise new regulations to expand the scope of their purview. When regulation becomes an end in itself, rather than a means to solve a problem, its disadvantages have begun to outweigh the benefits. The question then becomes, "Is that process inevitable"?