Regulation of Lodging by the Market Process

Here are some of the ways in which it is superior: * Instead of being inspected every year or so, each property is inspected every time it is rented. * Instead of getting a cursory look-over by a government employee just doing his job, the property gets a thorough examination by someone with her own comfort and money involved. * Instead of being enforced by authorities' restrictions on the choices of renters and property owners, standards of quality are enforced by those choices. * Instead of being subject to "capture" by the regulated insiders of the industryhotels and motels eager to use regulation to suffocate these new competitors-this regulatory process is itself regulated (kept fair) by outsiders' freedom to participate in the industry. * Instead of staying on the books for years after they stop making sense-if they ever did-the standards generated by this regulatory process are constantly being reevaluated, and they're cast off as soon as they don't make sense. [...]consumers might be taken advantage of, so they need government to regulate quality.