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"Regulation always benefits the rent-seekers. They have the best means of influencing that regulation in the first place. " The first sentence is blatantly wro

"Regulation always benefits the rent-seekers. They have the best means of influencing that regulation in the first place. " The first sentence is blatantly wrong (the word "always"). In what way did environmental regulation benefit the rent seekers or in what way does the GDPR help them? I really hate when people say all regulation is bad if the real problem is that politicians are captured by industry. I grew up up during a time when the river next to my town was green one day, red one day and yellow the next. The only fish in that river were dead. Now 30 years later you can go swimming in the river and there are plenty of fish. Only regulation made this possible.

mLuby 8y ago
Regulations benefit larger companies that can afford compliance departments, legal protection, and lobbyists. Imagine EvilCorp on the one hand, with 50+ employees dedicated to ensuring they stay just barely on the side of the law (while exploiting all the loopholes they can), and TinyShop on the other, which has 10 employees _total_ and has to spend a much larger percentage of available time, energy, and money ensuring they don't get shut down by a regulator. Regulations are important (that your town is healthy again is the main point), but they are also a barrier to entry that favor large, established companies over small startups.
- maxxxxx 8y ago
  If you can afford more lawyers you are always at an advantage. Even the “regulations” against theft or harming other people have a bigger impact on people with less money but we still have them. So saying “all regulations are bad” is just not very smart. Without regulations we would be living in a polluted world with child labor and unsafe workplaces. Every piece of food you buy may kill you. The wheels on your car may be falling off at high speed. I agree that there is room for improvement but regulations are a big part of what makes a modern civilized society.

mLuby 8y ago

Regulations benefit larger companies that can afford compliance departments, legal protection, and lobbyists. Imagine EvilCorp on the one hand, with 50+ employees dedicated to ensuring they stay just barely on the side of the law (while exploiting all the loopholes they can), and TinyShop on the other, which has 10 employees _total_ and has to spend a much larger percentage of available time, energy, and money ensuring they don't get shut down by a regulator. Regulations are important (that your town is healthy again is the main point), but they are also a barrier to entry that favor large, established companies over small startups.

maxxxxx 8y ago
If you can afford more lawyers you are always at an advantage. Even the “regulations” against theft or harming other people have a bigger impact on people with less money but we still have them. So saying “all regulations are bad” is just not very smart. Without regulations we would be living in a polluted world with child labor and unsafe workplaces. Every piece of food you buy may kill you. The wheels on your car may be falling off at high speed. I agree that there is room for improvement but regulations are a big part of what makes a modern civilized society.