Thu, 26 Jan 2006

Regulation without law

There are many kinds of regulation. A regulator on a steam engine requires no legislator to make it work. Free markets have mechanisms which make certain types of results very unlikely. Legislated regulation ends up being co-opted by the people with the highest-paid lobbyists — and you already know who they are even if you're in no way cynical.

Posted [13:06] [Filed in: ] [permalink] [Google for the title] [digg this]