5 ms·
This is I think where the voting public gets played by both sides. On the "free market" side people are told all regulation is bad, just let the market operate.
by dkhenry 10y ago
This is I think where the voting public gets played by both sides. On the "free market" side people are told all regulation is bad, just let the market operate. Which ignores that some regulation is needed to keep a level playing field. Then on the other side we are told we need to strictly regulate to control for safety and shared resources, but both sides just impose regulation that benefit established firms and sell out consumers.
- theseatoms 10y ago> ... but both sides just impose regulation that benefit established firms and sell out consumers. Can't agree more. Corporatist rent-seeking is the fundamental problem with our political economy and/or society. But both sides keep talking past each other (as they are incentivized to do).
- iamdave 10y agorent-seeking Tangent, thanks. This is the phrase I was trying to conjure to mind earlier today in a discussion about the very topic of this thread. Ended up taking a long, exhaustive and context-laden road to get to my point; after which I had already lost an audience but so it goes. For the interested: https://www.wikiwand.com/en/Rent-seeking https://www.wikiwand.com/en/Rent-seeking
- amluto 10y ago> Which ignores that some regulation is needed to keep a level playing field. Think about the original purpose of the FCC. Some regulation is required to make the services work at all. With a completely deregulated system, your microwave would disrupt cell-phone service for blocks. Your computer power supply might do the same thing. And Verizon phones would probably intentionally interfere with AT&T phones. Low-frequency spectrum is a public resource, full stop.