. >> david martin, georgia council on economic education m. .. there is either no licensing or for lazy. that's not actually correct. we don't live in a binary world of regulation of in fact, there is is a menu of regulatory options that can be used. people don't realize this. this is my my colleague will hope that more people come to realize. a colleague of mine at the university of michigan we co-authored an article regulation magazine just a few months ago looking at this regulatory options. the way we describe it is to state any burden. it. at the top the permanent is market regulations because without licensing there's no regulation. the market regulates. what does that mean? it means that as somebody who provides goods and services are being regulated by my reputation in that sense and by consumers behavior. today consumers have the ability unlike in any other time in history to influence what happens within the markets for goods and services. on your phone you now have more information about goods and services providers than any time in hi