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> Regulators are inefficient. What do you mean by that?

• marcosdumay 3y ago
  The theory goes that the regulation organization has no reason to run at its best performance. Because it's necessarily a monopoly (works best when it's the government itself), and because there's a lot of pressure into its continued survival. So, as a rule, the work of regulators aren't optimized at all. Of course, the real world is much noisier than that. But the most that free market advocates can claim is that regulators are inefficient, never that regulations are. Unless they are talking about some specific regulation.
  • wolverine876 3y ago
    I see what you meant. > the most that free market advocates can claim is that regulators are inefficient Beware of buying into their language. Regulations are necessary to free markets; unregulated markets can turn into monopolies or similar, making them very un-free.
    • marcosdumay 3y ago
      I hardly disagree here. If we stop using some word just because some con-man said them, we'd run out of words much faster than we could agree on new ones. And worse yet, we'd give the con-man the power to decide what gets discussed or not, and would legitimize the behavior of switching words like they were fashion accessories, that is one of their main strategies.