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No problem. The policymakers will let their trust fund or family members do all the trading with *information that they might have. Are they going to also stop
by wanderingmind 5y ago
No problem. The policymakers will let their trust fund or family members do all the trading with *information that they might have. Are they going to also stop anyone related to the policymakers from not trading? That will be a violation of their constitutional right to own property. There is always a way out for the rich. This is what happens when we have too many regulations.
- octodog 5y agoI am following you until your last sentence. How does having less regulation help here?
- wanderingmind 5y agoThere is a term called regulatory capture where large corporations lobby governments to write regulations that stifle competition. When hundreds of millions or billions ride on such regulations that is created by a few individuals, they have enormous power that is susceptible to corruption. And its very difficult to remove this corruption. The long term stable approach is to have as few regulations as possible that removes such absolute power from a few unelected individuals. An example of thriving with few regulations is the tech industry. It was able to boom and dominate because it had few regulations.
- 58x14 5y agoWhile I certainly agree that tech has been able to 'dominate,' your use as an example of a 'stable approach' with 'as few regulations as possible' that 'removes such absolute power from a few unelected individuals' feels ironic, considering the... absolute power that unelected individuals like Zuck have. Alas, I don't think it's likely any legislative body will pass meaningful tech regulation anytime soon.