This would stop the currently exponential pace of growth from outpacing what society, and regulation, can adapt to. Thus avoiding the inevitable crash that will happen when we lose control of the exponentially accelerating train of technology, and it flies off the rails.
We have one. It’s called being human. As humans have a limited ability to understand and invent, there is a limit to technological growth rate. It’s just that this governor is set at a development rate that is much higher than what the society can handle.