5 ms·
Yes but who regulates the regulators? Google "regulatory capture". Democracies have a poor track record of controlling regulators who make subjective decision
by octoberfranklin 4y ago
Yes but who regulates the regulators? Google "regulatory capture". Democracies have a poor track record of controlling regulators who make subjective decisions.
There is a solution though: regulate size. It's objectively measurable. The Mazda example that GP gives is legit, but it's on the knife's edge of disappearing -- one more wave of consolidation and it will be gone. But of course regulating bigness is a very pre-2007 solution. In the modern world it's all about ever-increasing bigness. Because everybody loves zombie megacorps living off of an IV drip of cheap debt.
- toomuchtodo 4y agoCitizens regulate the regulators.
- throw10920 4y agoYou'd think that, but if citizens were capable of regulating anything, then they'd just directly avoid buying products with anti-features. My average friend and family member is both well-educated and gives almost 0 effort to either (a) looking at what government regulators are doing or (b) researching their big purchases ahead of time.
- sbf501 4y ago>Democracies have a poor track record of controlling regulators who make subjective decisions. I googled regulatory capture. Let's look at a few things that have been regulated in the past 100 years of US history: - car emissions - lead usage in paint and fuel - child toy safety - food safety - workplace safety I'd say regulation has worked amazingly well since the days of Upton Sinclair novels.
- hugh-avherald 4y agoRegulatory capture is the bathwater to the baby of regulation.