I think regulation (and the notion of over/under regulation) is a fascinating and worthwhile discussion to pursue. Honestly, it's something people should be debating.
However, I insist that you describe the low, or no, regulation regimes you have lived under (or visited for significant periods ... months/years).
When and where ?[1]
There is a "must be this tall to ride" barrier for discussing small government and/or over regulation, and this is it. As a community we should insist on this basic test of legitimacy.
[1] Yes, I'll accept NOLA. Maybe even Houston in the 90s ...