3 ms·
It is wasteful inefficient regulation. Just fine companies 10% of revenue for not following the rules and everyone will comply. Give 1% of the fine to the whist
by intrasight 1mo ago
It is wasteful inefficient regulation. Just fine companies 10% of revenue for not following the rules and everyone will comply. Give 1% of the fine to the whistleblower. Market mechanisms.
- ThrustVectoring 1mo agoUnironically, for a small enough business, 10% of revenue is cheaper than figuring out what the rules are and following them. If I'm doing $30 worth of sales to Malta, it's cheaper to pay them $3, basically regardless of what Malta-specific regulations there are.
- intrasight 1mo agoThis is why market-based approaches make more sense - especially compared to arbitrary compliance thresholds of any form.