I agree with you.
“do we have to revisit ideas that don’t work…It failed, it didn’t work, it was dangerous, and people lost their lives.” - Adam Carolla
What he’s describing also sounds exactly like the gilded age, massive income inequality, poverty everywhere, vast power in the hands of a select few Oligarchs (robber barons), dangerous untested drugs, stock market manipulation, bank runs and failures, company towns and script, exploitative child labor, orphan trains, clear-cutting forest, the near extinction of species, filthy polluted skies and water, a hole in the ozone layer, rivers that catch fire, etc. And then we as a country learned from those mistakes. We implemented all sorts of good ideas (regulations), like the 40 hour work week, unions/organized labor, we taxed the rich (heavily) and invested in programs that benefited us all, we had banking regulations, we had financial regulations, the FDA, the SEC, the EPA, National Parks and Monuments, fish and game lands, clean drinking water, and air to breath!
Too bad the same people decrying Socialism can’t apply this concept to anything else they can think of, especially when it disagrees with their preconceived beliefs regarding deregulation.
Also, the housing crisis/financial crisis. Banks failing, foreclosures skyrocketing, the worst recession since the Great Depression, and all because of deregulation that worked for decades had been repealed, and within 10-15 years the system sh!t the bed again. All because we knew that square windows were bad. And then one day some new Republicans got some ideas about square windows again (deregulation), and how we should try that again…If it didn’t work the last time, why would it work this time around?