Discussion in 'Cryptocurrencies' started by Here4money, Mar 7, 2018.
Well said, Sig.
I know you didn't say regulations were all bad, in fact went out of your way to say it. (and I class you as the intelligent businessman not the beer can thrower). And having worked in government, I can tell you there are unquestionably outdated or just worthless regulations, I personally got a few removed. What I question is that there's 880,000 regulations that are entirely pointless or that are there primarily to support a corporation, I'd say it's more like 5-10% are outdated or serve no value, a problem but pretty far down the pressing problem list. I run a business, in a highly regulated area (electricity distribution and sales). Regulation has no noticeable impact on my business, it costs me almost nothing, and I've never known a well run company that went out of business because of regulation. I do hear a lot of poorly run companies use it as an excuse though, and of course I hear utilities complaining when they have to stop dumping coal ash into giant open ponds next to my house, for which I have limited sympathy.
I think the article you posted is interesting and thanks for posting it. But it's also interesting for what it doesn't do, which is to examine a regulation for exactly what it does do and what the unintended consequences would be of getting rid of it. For example it talks about the time needed to get permission to upgrade the Bayonne Bridge, but let's talk about exactly which regulation(s) are the one(s) we need to get rid of and let's let both sides talk about what the unintended consequences would be. You'd quickly realize it's not that easy, they mostly all serve a purpose and perhaps you shouldn't be able to make a major change to one of the major choke points into NYC on a whim?
I went to a decent business school with the idea of coming back to government and cleaning all the bullshit up to make it run more like a business. I ran into the buzzsaw of reality that this shit is just really really hard. Not to say we shouldn't work diligently and hard to make it better. Unfortunately it will take better men than me, I jumped to the private sector and became an entrepreneur starting companies. Which, as it turns out, is far easier than reforming regulations!
"Do no harm" they said...
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