Well, given what was going on in the Gilded Age is part of why, is it surprising that the Left had a point, even if the Socialists co-opted it, like they do with so many other things?
The abuses of the Gilded Age robber barons are what led to socialism seeming so appealing, when the other side of the coin were the worst excess of the unrestricted, pre-trust busting, pre-safety/labor standards corpo's of the early 20th century.
It should be noted that, if given the choice, many companies would rather go back to that sort of SOP or go full Cyberpunk instead of going the morally uplifting route. While there are 'good faith' business elements that work, the problem is that it doesn't pay well in the view of the stockholders.
So, the sad reality is that you have to have enough rules and regulations to ensure that the above never happens... at least unless you want the planet to look like something straight out of
Cyberpunk... or worse, because that's what decreasing the number of regulations means in the short and long run.
Hell, we had incidents where the staff were
undertrained just to make a quick buck:
So, before you go for the 'LESS REGULATIONS!' spiel, remember that the fewer regulations you have, the more incidents like all the ones we've seen and others that
didn't have the staff do everything in their power to rectify the situation will happen.
