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I definitely get this argument that regulations decreases competition, but they are there for protecting the consumer. I don't believe they were created to skew
by bluejekyll 10y ago
I definitely get this argument that regulations decreases competition, but they are there for protecting the consumer. I don't believe they were created to skew the marketplace, but they have indeed done this. It's a tough question, because self-policing doesn't work, we need organizations designed to protect the consumer.
The recent fight between CA, SF and Uber around the "self-driving car" tests is interesting to me personally, because I ride my bike in San Francisco almost every day, and sometimes with my kids. I do believe that self-driving or driver assisted cars will be safer than people alone, but I also want to know that there have been some amount of testing requirements met so that I know my family and I are safe.
So I ask this question, if your premise is that regulations are overly burdensome, and there is evidence to support this, what do we replace it with to get the same or better oversight of industries?
- ChicagoBoy11 10y agoAs cliché as my answer might be, I really believe in it: competition. There is no force quite as good as keeping companies from shafting consumers quite like competition. Now, I'm also not knocking safety requirements. I'm fully aware that some of those structures exist for a very good reason -- I just feel like we have gone way overboard in virtually every industry. For a great piece discussing the medical industry specific, I highly recommend this essay: https://faculty.chicagobooth.edu/john.cochrane/research/papers/after_aca.pdf https://faculty.chicagobooth.edu/john.cochrane/research/pape...