4 ms·
Government often regulates when an industry doesn't regulate themselves. Sometimes you need the government to step in because the social cost isn't being borne
by ohashi 16y ago
Government often regulates when an industry doesn't regulate themselves. Sometimes you need the government to step in because the social cost isn't being borne by the industry.
- wisty 16y agoWell, the customers should be the ones who regulate industry. In some markets (medicine, food, financial advice, etc), it's very hard for customers to make informed decisions. In other markets, negative externalities are an issue. I think I can spot if a hotel room is clean or not. I doubt I could tell if the bedsheets had been properly sterilized, or if the shower was cleaned with bleach, but I can carry a sleeping bag and a pair of rubber slippers. Neighbors will complain about tourists partying till 3am every night, but that could be handled by the cops. They could raise some revenue by fining noise polluters, just like they fine people who break the speed limit.
- vermontdevil 16y agoNot always. Often government regulates on behalf of existing business in order to create barriers around said industry. This way the existing businesses continues to operate while newcomers are deterred. Look at cable tv, cosmology, etc.
- hugh3 16y agoCosmology? Is there a cosmologist's guild I don't know about?
- anamax 16y ago> Is there a cosmologist's guild I don't know about? Yes. Almost every "trade" has one. Every regulated one does. More to the point, every newly regulated trade had one that helped write the rules that they pushed through the relevant govt body.
- hugh3 16y agoAnd you're absolutely sure you're not getting cosmology confused with cosmetology?
- anamax 16y agoMy statement is true of both.
- wglb 16y agoSo what are the regulatory rules that apply to cosmologists?
- anamax 16y ago> So what are the regulatory rules that apply to cosmologists? No idea. However, we're discussing whether regulated trades have trade associations and whether those associations are involved in the regulations. No one implied that every trade was regulated, or even that every trade with a trade association was regulated.
- vermontdevil 16y agoI'm chaneling Palin here. Yes I meant what you said - hairdressers, etc. My bad. Need more coffee in the morning.