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What good is regulation without solid enforcement?

by lrem 3y ago

colechristensen 3y ago
This is what is happening. Likewise with the messy spacex launch… regulation is happening in response.
- kortilla 3y ago
  That’s not the same thing at all. Fraud isn’t something that needs new regulation. The existing rules are fine, they need to be enforced.
  - frankreyes 3y ago
    We need new rules that improve enforcement. And then enforce the enforcement with rules about enforcing enforcement!1 That's the thinking of bureocrats who see the world in terms of rules and enforce, but fail to see the bigger picture that it's easier for everyone to just relax the rules.
  - olliej 3y ago
    That only works if you don’t have targeted defunding of regulatory bodies - that’s what a lot of these come down to in many countries now. People vote for laws that protect them, then anti-actual-person politicians vote to defund the agencies enforcing those regulations. It’s win win for them: they get to give their friends and employers tax cuts and lower operating costs (by socializing the downstream costs), and because the agencies are under funded they slow down which feeds into “these agencies are bad because they’re slow and inefficient, so we should end them completely”
smitty1e 3y ago
Ding ding ding. Capitalism is buyer, seller, and marketplace, with "enough" regulatory feedback to stabilize the system. Regulation becomes a bugaboo when too many people make their living stomping on the brakes to keep everything tidy. Regulation is a "Goldilocks" challenge.
- baz00 3y ago
  Regulation is there to make sure you don't do things that damage society or hurt people. If someone stomps on you, you're probably doing things to damage society or hurt people. Stop doing that.
  - smitty1e 3y ago
    ...unless and until it ventures into https://en.m.wikipedia.org/wiki/Regulatory_capture https://en.m.wikipedia.org/wiki/Regulatory_capture
    - baz00 3y ago
      That's less bad than no regulation. But at the end of the day, both extremes are not helpful so we should be promoting regulatory balance not extremist positions.
      - smitty1e 3y ago
        Hence my original > with "enough" regulatory feedback that seemed to meet with disfavor.
  - PM_me_your_math 3y ago
    [dead]
- loa_in_ 3y ago
  Regulation is done, ideally, with the reality of the society in mind and up to date with the zeitgeist at all times. In practice there's a lot of room for improvement in this regard.
- littlestymaar 3y ago
  > Capitalism is buyer, seller, and marketplace with "enough" regulatory feedback to stabilize the system. Capitalism is “a small elite possess the means of production”, what you are describing is “market economy”, those two concepts have been muddled by cold war propaganda but they aren't the same thing. Crony capitalism, monopolies and regulatory captures are all features of Capitalism, but they work against the goals of a market economy.

What good is regulation without solid enforcement?

by lrem 3y ago

What good is regulation without solid enforcement?

colechristensen 3y ago

This is what is happening. Likewise with the messy spacex launch… regulation is happening in response.

kortilla 3y ago
That’s not the same thing at all. Fraud isn’t something that needs new regulation. The existing rules are fine, they need to be enforced.
- frankreyes 3y ago
  We need new rules that improve enforcement. And then enforce the enforcement with rules about enforcing enforcement!1 That's the thinking of bureocrats who see the world in terms of rules and enforce, but fail to see the bigger picture that it's easier for everyone to just relax the rules.
- olliej 3y ago
  That only works if you don’t have targeted defunding of regulatory bodies - that’s what a lot of these come down to in many countries now. People vote for laws that protect them, then anti-actual-person politicians vote to defund the agencies enforcing those regulations. It’s win win for them: they get to give their friends and employers tax cuts and lower operating costs (by socializing the downstream costs), and because the agencies are under funded they slow down which feeds into “these agencies are bad because they’re slow and inefficient, so we should end them completely”

smitty1e 3y ago

Ding ding ding. Capitalism is buyer, seller, and marketplace, with "enough" regulatory feedback to stabilize the system. Regulation becomes a bugaboo when too many people make their living stomping on the brakes to keep everything tidy. Regulation is a "Goldilocks" challenge.

baz00 3y ago
Regulation is there to make sure you don't do things that damage society or hurt people. If someone stomps on you, you're probably doing things to damage society or hurt people. Stop doing that.
- smitty1e 3y ago
  ...unless and until it ventures into https://en.m.wikipedia.org/wiki/Regulatory_capture https://en.m.wikipedia.org/wiki/Regulatory_capture
  - baz00 3y ago
    That's less bad than no regulation. But at the end of the day, both extremes are not helpful so we should be promoting regulatory balance not extremist positions.
    - smitty1e 3y ago
      Hence my original > with "enough" regulatory feedback that seemed to meet with disfavor.
- PM_me_your_math 3y ago
  [dead]
loa_in_ 3y ago
Regulation is done, ideally, with the reality of the society in mind and up to date with the zeitgeist at all times. In practice there's a lot of room for improvement in this regard.
littlestymaar 3y ago
> Capitalism is buyer, seller, and marketplace with "enough" regulatory feedback to stabilize the system. Capitalism is “a small elite possess the means of production”, what you are describing is “market economy”, those two concepts have been muddled by cold war propaganda but they aren't the same thing. Crony capitalism, monopolies and regulatory captures are all features of Capitalism, but they work against the goals of a market economy.