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There are countries in Europe which do not have a minimum wage mandated by the law - rather, it's the unions that negotiate them - and they still end up with more than people get in US. I guess you could term such negotiations "regulation", but it'd be really stretching it.

Regulating a broken system is an exercise in futility. We need a system in which the feedback loops produce the desired outcomes in the first place.

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I’m pretty sure slavery is outlawed in all European countries so that alone prevents a 0 minimum wage. That itself is a regulation. There are lots of “regulations” (government interventions) that prevent a zero minimum wage. Indeed the legal protections and regulations regarding unions, social programs for the unemployed, universal healthcare, etc. all contribute to an environment where the lowest wage isn’t zero. It is not a stretch at all to say that the legal infrastructure surrounding unions and requirements surrounding dealing with them count as “regulation”.

There are lots of instances where regulations fixed a broken system. Government regulations fixed the broke system of using child labor and fixed the broken system of slavery.

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