4 ms·
That sounds great. Let's regulate it. I am from Venezuela and can tell you the wonders regulation has done for my country's economy.
by panitaxx 9y ago
That sounds great. Let's regulate it. I am from Venezuela and can tell you the wonders regulation has done for my country's economy.
- door 9y agodid you know that the united states has a federal minimum wage and is also the wealthiest country in the world
- gizzlon 9y agoI'm from Norway and the economy is quite regulated. We're still/therefore (take your pick) very successful [1]. Macro economy is complicated. It seems obvious to me the it's not as simple as "just let everyone run free". On the other hand regulation has it's disadvantages as well. Complicated. [1] as in #3 in the world: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...
- panitaxx 9y agoIt is complicated. Sweden also seems very regulated (as most of the EU).
- krrrh 9y agoMeasuring "regulation" isn't straightforward, but based on the Heritage Foundation's criteria, Norway has a relatively light load. It's basically on par with the US.[1] Its a very free economy by international standards. Venezuela is near the bottom of the list, just above North Korea. Economic regulation and the extent of the social safety net can be quite independent of each other. [1] http://www.heritage.org/index/ranking http://www.heritage.org/index/ranking
- totalZero 9y agoI'd say corruption is a bigger culprit than regulation in Venezuela.
- panitaxx 9y agoSocialism ... It never fails to ruin a country. When it is ruined then it was never "real socialism". The problem, and I know this is a little bit OT, is that when you give people incentives not to work or you give arbitrages opportunities they are going to go for it. Negative incentives work also, e.g. here they regulated almost every price, result: no regulated-price products are found (only in the black market).
- dang 9y agoPlease don't do generic ideological arguing on HN. It's off-topic here, and not the benign kind of off-topic. I respect that your comments arise from a serious and even tragic situation, and am sure most everyone here shares that feeling.
- deleted 9y ago[deleted]
- dang 9y agoWe detached this subthread from https://news.ycombinator.com/item?id=14330613 https://news.ycombinator.com/item?id=14330613 and marked it off-topic.