And who would you trust with the "greater good"?
Find me enough incorruptible politicians and bureaucrats and we'll talk. You might have noticed that regulating agencies have often been part of the problem. Ask around about the FDA sometime.
For a real eye-opener, check out the list of recalled products, including small intestines, lips, spleens, salivary glands, lymph nodes, tongues, bile and blood. We apparently don't waste any more dead cow than the Indians did.