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I know some folks don't like to remember this or were too young, but your point is a good reminder that "regulation" comes with downsides like this. E.g. monop
by gedy 6y ago
I know some folks don't like to remember this or were too young, but your point is a good reminder that "regulation" comes with downsides like this. E.g. monopolies and incumbents like telecom will sometimes beg to be "regulated", and use to keep out competition and to avoid having to change/innovate.
- Broken_Hippo 6y agoI'd take a guess that most regulations are helpful - everything occasionally has downsides, especially if you game the system. For example: You probably don't test a new can of paint for lead - thanks to regulation. I don't know the standards now, but telcos used to have consumer positive regulations as well. Like having to offer citizens of some states payment plans so they can afford their phone or regulated to apply payment certain ways to help avoid total phone disconnection (landlines here). Fines if phones weren't answered in good time. Some states had weak regulation about updating rural and poor areas as they do the profitable ones: Some countries still make sure this is done in a timely manner.