Are you in favor of regulatory capture?

[msc545]

Regulatory capture  is when a regulator starts defending an industry from the public interest, instead of defending the public from the industry.

Updates

+1 y

The choice is never “government regulation” or “no regulation” — it’s always “government regulation” or “corporate regulation.” You either live by rules made in public by democratically accountable bureaucrats, or rules made in private by shareholder-accountable executives.

[Curmudgeon]

That alas, is a classic result of expertise. Who understands how to regulate a particular industry? Someone who works or worked in it. "It takes One to know One!!!"

So the regulators and the regulated over time become almost buddy-buddies, because they speak the same technical language, come from the same corporate culture, and you can guess the rest.

Which is why heavy regulations only make sense in industries which will inevitably become monopolies otherwise, utilities and infrastructure being the classic examples.

Otherwise, anti-trust is the answer, making what would otherwise become a monopoly industry competitive, or at least more competitive. Keep the competition healthy healthy and as diverse as possible and all that.

What is worse is what we are seeing now, where certain near monopolies in their areas get into bed with the Democrat Party, where they push the "Woke" (sic) Leftist political agenda in exchange for no anti-trust investigations into their effecitve monopolies. Whish is why Facebook Mark Zuckerberg and Amazon's Jeff Bezos go before Congress and show more arrogance than even John Rockefeller and Andrew Carnegie and JP Morgan did in their prime.

It really is time for the GOP to rediscover their Teddy Roosevelt side and begin trust busting again. Something of which only Donald Trump, as much of a reckless bull in a china shop he may be, shows and showed signs of doing.

[msc545]

Since Reagan, the US government has simply ignored anti-trust laws.

[Curmudgeon]

Be that as it may, it's time again

[RealMarek]

I’m not for it. Out elites are. Clear them out! However, we should keep in mind that the legislature has tied the Executive Branch’s hands by making it nearly impossible to fire bureaucrats. This, combined with the numerous nodes of potential corruption in Congress, set the system up for oligarchic control. No change will happen until a strong-man President fires most of the civil service and replaces them with people loyal to him, and declares any interference in the inner workings of the other two branches of government to be an unconstitutional violation of the separation of powers that he is oath-bound to ignore.

[Anonymous]

I generally think we have too many of regulations,

For example, 2 years ago I made up an online store, where I uploaded the works of my intellectual property which I prepared just for myself, throughout the years of my studies and work and figured, selling them would be a good source of passive income.

2 years later, I logged in to find out, a lot of my products have been successfully sold but the Marketplace took half of it and the USA taxed another big bunch of it, since as I figured the online marketplace is based in USA.

I think these regulations are just stealing from people.

We have too many regulations. Now I don’t care about that store or that passive income , since I make enough amount of money through my active income, I haven’t logged in for 2 years, and I was just going to accumulate money through the sales there and check years later. But figuring out, it got stolen was a disappointment. I was happy I was getting money even in my sleep and Boom! It’s half stolen through the means of regulations. Those regulations weren’t part of it when I made the store up.

[Anonymous]

No. I'm also not in favour of colleges and hospitals being paid to do studies with already predetermined statistics

[exitseven]

This us like when cities appoint a group to oversee the police and make it up of a bunch of people that have no idea about the law or how a police officer performs his duties. The public must be protected from the government.

[msc545]

You misunderstand. The people must be protected from corporations. There will always be regulation. Do you prefer government or corporate regulators or monopolies?

[exitseven]

I will take the corporation. They cannot arrest me and throw me in prison.

[msc545]

This is about the regulation of Corporations, and it is all Civil. Not criminal.

[exitseven]

@msc545 Still, ending up in prison is a real threat these days.

[msc545]

You are conflating two very separate things. Corporations cannot put you in prison. They can just steal all of your money.

[exitseven]

At least with corporations you can take steps to prevent them from taking all your money. The government just needs to pass a law.

[msc545]

Sure. Try to fight a corporation with more money than God.

[exitseven]

The trick is not to fight them on their terms.

[Curmudgeon]

@msc545 that is why I stressed anti trust and a competitive marketplace. You are absolutely right about corporate monopolies.

[BoopBoopBeep]

I would like to go visit that country that has democratically accountable bureaucrats.

[goaded]

https://www.youtube.com/embed/AiOUojVd6xQ

McKinsey worked for Perdue and the FDA at the same time, incuding selling OxyContin for children.

[Anonymous]

Yes, if one has worked in regulatory capture.