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> Neither is good or bad, they just work differently and some people like one over the other. They like one over the other when both work out the same. If some
by luckylion 6y ago
> Neither is good or bad, they just work differently and some people like one over the other.
They like one over the other when both work out the same. If some accident happens and the bus explodes, killing the passengers, nearly everybody wants more regulation.
People want the standardization and predictability, but they don't want the associated cost and lack of flexibility. That's understandable, but it's also naive.
- mc32 6y agoIt really depends on people’s tolerance for the negative results vs positive impact. Drug manufacturing, food product, yes you want more regulation because of impact. Where someone sells furniture and whether or not they have a valid business license much less so. Light regulation means more people are self employed. As economies develop and mature they also develop more regulation. When economies are less i institutional then they have less regulation. We can even see that within the CHOP. If you overregulate an emerging economy you risk suffocating it.
- luckylion 6y ago> If you overregulate an emerging economy you risk suffocating it. Oh, absolutely, I agree. I believe the comparison with more developed economies is often in a "why can't we have this flexibility here"-tone, and the answer is that we could and had, but we've discovered that it's better not to. It feels a bit like thinking "hey, if I leave my tent at home, I'll travel much lighter and hiking will be more fun", which is true, but sleeping won't if the weather isn't in your favor.