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Regulation of voluntary market interaction doesn't work because one-size-fits-all solutions don't work. You cannot anticipate all permutations of a class of int
by CryptoPunk 8y ago
Regulation of voluntary market interaction doesn't work because one-size-fits-all solutions don't work. You cannot anticipate all permutations of a class of interactions and preemptively prescribe optimal processes for each one. Doing so will massively inhibit innovation.
Free market disruption will do much better to check larger players than easily captured regulatory agencies which are much more likely to become protectors of incumbents in industry and unions than check abusive power.
If the government wants to limit abusive corporate power without setting the dangerous precedent of violating private property and contracting rights, it can fund open source development, like the EU recently did with its funding of Proton mail.