4 ms·
Again, this can be true, but regulatory capture is a problem of democracy, not of regulation powers themselves.
by scoofy 4y ago
Again, this can be true, but regulatory capture is a problem of democracy, not of regulation powers themselves.
- r00fus 4y agoThe problem with democracy and regulations both come down to essentially sovereign financial powers (wealthy/corporate) that have interests that don't align with the people or the state that is supposed to represent the people. These corporations control us if we don't control them.
- scoofy 4y agoThe problem with democracy is the dunning-kruger effect more than the principle-agent problem. People think highly-complex problems are obvious and easy. They care more about big sweeping theory than they do about local technocracy. The idea that anti-intellectualism even exists is testament to this.
- r00fus 4y agoGonna say something that would likely be downvoted but a functioning society does not need democracy. A governing body needs legitimacy because it's power springs from the people, but democracy and voting are not necessarily requisite. e.g. China/CCP (which isn't really communism, but definitely not democratic).
- 8note 4y ago
- mellavora 4y agoThe advantage of a democracy is that it gives society a way to say "we made a bad choice". Individuals almost never can do this. But you are right, a benevolent, enlightened dictatorship is probably the best form of government. Only two problems: - finding a benevolent enlightened dictator - keeping them benevolent and enlightened
- brutusborn 4y agoHow is regulatory capture a problem of democracy? Surely you only need a regulator and a party to capture them? For example, what's stopping a company in China lobbying a minister for regulations that harm their competitors? The Minister may not have been elected through democratic means, but regulatory capture can still occur.
- scoofy 4y agoI didn't mean exclusively. I meant it's an existing problem, the distance between the regulator and the authority, which in democracy is quite distant, but in other form of government can also be quite distant.
- brutusborn 4y agoI think we're getting closer but I still don't understand. What do you mean by "the authority"?
- scoofy 4y agoThis is not a game for me
- brutusborn 4y ago?