I remember when they sold mandatory car insurance in CT. The argument was that when everyone was in the pool it would drive the cost down. It never occurred to the dupes that voted for it that you were taking a good that has limited supply (More so because they were limiting the insurers to CT companies) and pushing the demand to maximum.
Soon a policy that used to cost 180 bucks a year cost 800 bucks and a fender that you could get for 75 bucks cost 450.
‘...taking a good that has limited supply and pushing the demand to maximum.’
the perfect scam; and you the consumer have no options whatsoever...