The quote emphasizes that free markets alone are insufficient for ensuring safety in various sectors such as food, water, financial markets, and airlines. It argues that effective regulation is necessary to protect public welfare and maintain industry standards. Without oversight from regulatory bodies, consumers may be exposed to risks and dangers that could have been mitigated.

Moreover, the author, Michael Crichton, stresses the importance of having inspectors and regulatory agencies like the EPA and SEC to safeguard citizens. The assertion implies that while free markets are essential for economic function, regulatory measures are crucial for preventing harm and ensuring the safety and integrity of vital services and products.