Regulation - It Is What It is

From Merriam-Webster's definition

Main Entry: ¹reg·u·la·tion

Pronunciation: \ˌre-gyə-ˈlā-shən, ˌre-gə- also ˌrā-\

Function: noun

Date: 1665

1 : the act of regulating : the state of being regulated
2 a : an authoritative rule dealing with details or procedure s> b : a rule or order issued by an executive authority or regulatory agency of a government and having the force of law

synonyms see law

Now sadly some misinformed folks think regulation is unamerican, so figured it was time for a little edification.
The U.S. Constitution uses the word "regulation" 6 times. A simple word search of the text will demonstrate this. Whereas "free market" is mentioned 0 (that is zero) times, and "capitalism" is mentioned 0 (zero) times. Feel free to search your own synonyms for unrestrained markets and see the number of entries the forefathers thought were important enough to include in the constitution.

Let's look and see what they had to say on the matter.

1. In Article I, section 4:
   The Times, Places and Manner of holding Elections for Senators and Representatives, shall be prescribed in each State by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators.
   
2. Article I, section 8:
   To make Rules for the Government and Regulation of the land and naval Forces;
   
3. Article I, section 9:
   No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another; nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay Duties in another.
   
4. Article III, section 2:
   In all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party, the supreme Court shall have original Jurisdiction. In all the other Cases before mentioned, the supreme Court shall have appellate Jurisdiction, both as to Law and Fact, with such Exceptions, and under such Regulations as the Congress shall make.
   
5. Article IV, section 2: (This was modified by the 13th amendment in 1865)
   No Person held to Service or Labour in one State, under the Laws thereof, escaping into another, shall, in Consequence of any Law or Regulation therein, be discharged from such Service or Labour, but shall be delivered up on Claim of the Party to whom such Service or Labour may be due.
   
6. Article IV, section 3:
   The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States; and nothing in this Constitution shall be so construed as to Prejudice any Claims of the United States, or of any particular State.
   

Clearly the founding fathers knew the importance of regulation and regulatory bodies. I hope that cleared that up for you.

:)