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View Diary: How Regulation came to be: Our Lady of the Angels (79 comments)

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  •  It cuts both ways. (7+ / 0-)
    Recommended by:
    DaleA, sberel, G2geek, marina, trashablanca, rossl, yaque

    I've heard Eliot Spitzer lay out a very compelling case that the lack of regulation creates conditions where the established players in an industry are able engage in anti-competitive practices that freeze out start-ups and small firms, creating conditions where only the over-grown dinosaurs survive and stifle any threats from innovative upstart competition.

    Yeah, if you invite the lobbyists and industry reps in to write the regulations for you, you get a bad result.  That's why it's not a good idea to do that.

    We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both. - Justice Louis D. Brandeis

    by dsteffen on Sun Nov 29, 2009 at 03:37:09 PM PST

    [ Parent ]

    •  Absolutely (5+ / 0-)
      Recommended by:
      sberel, G2geek, dsteffen, trashablanca, yaque

      Unfortunately, many regulations ARE written by those people.  And there are unintended negative (and sometimes positive, too) consequences of honest regulations.

    •  direct vs. indirect: (4+ / 0-)
      Recommended by:
      sberel, dsteffen, rossl, yaque

      If we want an outcome, we should have the guts and principle to go for that outcome directly, not indirectly via other means.

      The way to deal with predatory competition scenarios is with progressive taxation and legally-mandated limits on the size and market share of companies.  And at the same time, government financial aid should be made available to smaller companies to keep them up to date with safety & health requirements.  

      In other words, social democracy.  

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