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That is a good example of why ethical businesses should support regulation. Another one is the capital markets. The most popular stock markets tend to be the m

That is a good example of why ethical businesses should support regulation. Another one is the capital markets. The most popular stock markets tend to be the most highly regulated both internally (that is, by the markets themselves) and by government (e.g., the SEC). Why? Because strong regulation enables consumer trust. Look at all the foreign companies that list on the NYSE, for example: https://www.nyse.com/listings/international-listings https://www.nyse.com/listings/international-listings Smart businesses support things like standards, certifications, and good regulations so that they are competing in a fair arena and don't have to compromise on their principles.

subradios 4y ago
Unethical business also supports regulation, the vape industry has been handed to RJ Reynolds due to regulations that ban all vapes that would be competitive with Vuse. Businesses support regulation if it gives them a permanent, competitive advantage over potential competitors. Child labor laws hurt my ability to pay for college and advance my career, and it also destroys mom and pop shops, because the school system has to give the 15 year old kid a permission slip to help stock shelves or open up shop. That's not to say we shouldn't have them, but child labor laws were primarily about children being exposed to the nature of industrial manufacturing work circa 1930 - not anything to do with today and thus using them as an analogy for other incentives problems (especially when solving them creates a principal agent problem) is misguided.
- Avshalom 4y ago
  >>not anything to do with today Only because it's still illegal today.
- BlueTemplar 4y ago
  At 15 years old, you are not a kid any more. Chimney sweepers used (often sold to them) boys, 5 to 10 years old (sometimes as young as 3) to climb in the chimneys to clean them (quite dangerous work). A minimum age of 14 (then 16) was put into place in 1834, and started to be enforced in 1875. (Note that this might have taken much longer if innovators hadn't been lobbying for child-free technics to do it.)

subradios 4y ago

Unethical business also supports regulation, the vape industry has been handed to RJ Reynolds due to regulations that ban all vapes that would be competitive with Vuse. Businesses support regulation if it gives them a permanent, competitive advantage over potential competitors. Child labor laws hurt my ability to pay for college and advance my career, and it also destroys mom and pop shops, because the school system has to give the 15 year old kid a permission slip to help stock shelves or open up shop. That's not to say we shouldn't have them, but child labor laws were primarily about children being exposed to the nature of industrial manufacturing work circa 1930 - not anything to do with today and thus using them as an analogy for other incentives problems (especially when solving them creates a principal agent problem) is misguided.

Avshalom 4y ago
>>not anything to do with today Only because it's still illegal today.
BlueTemplar 4y ago
At 15 years old, you are not a kid any more. Chimney sweepers used (often sold to them) boys, 5 to 10 years old (sometimes as young as 3) to climb in the chimneys to clean them (quite dangerous work). A minimum age of 14 (then 16) was put into place in 1834, and started to be enforced in 1875. (Note that this might have taken much longer if innovators hadn't been lobbying for child-free technics to do it.)