What profound insight. Do you have any other words of wisdom?
We could head down the same path if we are not careful. There is only one solution to this problem, briefly alluded to in the essay above, and that is de-regulation on a massive scale unseen since the creation of the post-war welfare state.
Scrap all regulations related to capacity, workers' rights, workers' compensation, OSHA, license and regulatory fees, various permits, and zoning of commercial establishments. Let unadulterated capitalism as envisioned by Adam Smith take hold, and prosperity will return.