In some markets, free competition leads to (at least a medium-term) monopoly, and you either have to accept that or accept regulation to bring about unnatural competition.

If travel agencies accept regulation as the way to block the card mills, then consumers may get additional state protection against losing money to insolvent or unscrupulous travel sellers.

Q: Would you accept statutory regulation of the press?

"If this industry is to mature, it has to accept regulation that helps make sure things are handled in the right manner," he said.

Apart from that, he said Philip Morris could accept broad regulation by the F.D.A. in several areas.

A coalition of 25 health maintenance organizations said today that it was willing to accept substantial Federal regulation - much more than the Republican leaders of Congress want.

The industry needs to overhaul its thinking, accept greater regulation.

They accept regulation of business to the degree that it improves economic efficiency, and believe the Supreme Court should normally defer to the judgments of the executive and legislative branches of the Federal Government.

In exchange, the industry would make an enormous payment to a smokers' compensation fund, perhaps as much as $300 billion over 25 years, and would accept Federal regulation and strict limits on advertising.

Now, in an attempt to rescue the market for American beef, the industry is being forced to accept regulation it has long fought.