He has consistently argued that, where feasible, complete deregulation is preferable to partial deregulation. "The verdict of the great majority of economists would, I believe, be that deregulation has been a success –- bearing in mind, as always, the central argument ... that society's choices are always between or among imperfect systems, but that, wherever it seems likely to be effective, even very imperfect competition is preferable to regulation ... Recent experience clearly suggests, instead, that the mixed system may be the worst of both possible worlds."