It's easy here in the present, with the benefit of hindsight, for genuine progressives like DK to see the evils their dreams of regulating the market to perfection inadvertently caused.
But at the time the hyper-regulatory state was being constructed, only the libertarians warned of the dangers of deep capture and told the progressives their path paved with good intentions would lead us nowhere desirable.
I wouldn't give progressives credit for hindsight. Collectivists always give the excuse "Socialism would have only worked if...". The only thing they seem capable of is seeing a better life and then slowly conforming it to their image (which of course destroys what grew the prosperity). Once it is obvious that they've consumed all the seed-crops then they blame a production deficiency and consume production rights too. It doesn't end until people see an opportunity to abandon the system entirely.