In a much discussed series of papers (1) the economist, Sam Peltzman, argued that government regulation has little or no effect upon highway safety because drivers have adapted to the safety improvements by driving more hazardously. Through an ingenious econometric analysis, Peltzman attributes fluctuations in the highway death rate to economic, demographic and other factors and concludes that drivers respond to improvements in the system by taking greater risks, leaving safety at the same level. This investigator has analyzed a very high risk traffic group, Grand-Prix racing drivers. Regulations have been introduced at various times to Grand-Prix Racing since the inauguration of the World Championship for Drivers in 1950. Analysis of this group reveals trends in driver casualties and crashes that may lend support to Peltzman, but the analysis does not support his sweeping conclusion that safety regulations appear not to have reduced traffic deaths.