> Big governments really do nonspecifically just suck a lot.
> We don't need deregulation. We need better designed regulation.
There is a major contradiction in this line of reasoning that the author never addresses.
The only way to have successful regulation is to have a powerful regulator, a powerful governing organ. The government needs to be the most powerful "firm" in the market.
Otherwise, there will be a more powerful private firm or "trade association" (read: cartel) that is the de facto "shadow government" of one or more economic domains, that the de jure government cannot hold accountable. We see this a lot in America since the 70s, mainly expressed through regulatory capture.
> We don't need deregulation. We need better designed regulation.
There is a major contradiction in this line of reasoning that the author never addresses.
The only way to have successful regulation is to have a powerful regulator, a powerful governing organ. The government needs to be the most powerful "firm" in the market.
Otherwise, there will be a more powerful private firm or "trade association" (read: cartel) that is the de facto "shadow government" of one or more economic domains, that the de jure government cannot hold accountable. We see this a lot in America since the 70s, mainly expressed through regulatory capture.