There's no really good way around it other than by changing the attitudes of the culture. At present, people generally like their nanny state and want more of it, not less. So we'll all suffer the consequences in the meantime.
You would also have to change the culture of business. As long as companies are out to make money instead of contribute value the force of the state will be employed to keep snake oil off the market.
Think education, health, law ...
Any more?
In fact from the list of the oldest professions only the "oldest" is free from regulation (only, for the most part, suffering from prohibition).