3 ms·
Point three is very much about deregulation in industries enjoying regulatory capture. Wall Street is quick to decry regulations that bar it from doing what it
by roc 15y ago
Point three is very much about deregulation in industries enjoying regulatory capture.
Wall Street is quick to decry regulations that bar it from doing what it wants. But it's just as quick to protect those regulations that keep competitors out. The regulatory problem really is just one of capture.
"Business-crippling regulations" are up there with Reagan's Welfare Queen, Ohio's voter fraud and Tax Cuts' job-creating stimulus credentials. That is: long accepted as political fact despite a complete lack of evidence of their existence and a continually growing pile of evidence against.
- cobrausn 15y agoI'm not dogmatic about these kinds of things - I will support anything that has a strong body of evidence supporting it (with the caveat that rights don't get violated). Regulations are not sacrosanct - there are bad ones and good ones, and sometimes deregulation kills the bad ones, in which case it should be supported. Sometimes it's just regulatory capture in action, as you said, in which case it needs to be stopped.