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I don't buy these "regulation kills innovation" type arguments. While regulation does put up barriers to entry, it also ensures a baseline level of quality and
by enraged_camel 7y ago
I don't buy these "regulation kills innovation" type arguments. While regulation does put up barriers to entry, it also ensures a baseline level of quality and prevents abuse of the system.
I mean there's a reason we don't allow everyone to perform surgery or fly commercial aircraft.
- wutbrodo 7y agoWhat does manually ensuring a baseline level of quality have to do with innovation? Your comment makes a case for why regulation exists, not a case against the claim that it harms innovation.
- enraged_camel 7y agoThe parent poster offered a false dichotomy where you have regulation on one end and innovation on the other. The reason this dichotomy is false is because it assumes that innovation is only introduced by small and new players in a market. My objection is that not only is that not true (some of the largest companies in any regulated market can also be the most significant innovators in that market), it is also the case that small and new players are often in it to cheat and fleece customers, and regulation is a good defense against them.