Monday, 8 July 2013

The problem with regulation

By Alasdair Macleod

It is seems to be universally agreed that regulation is a good thing, ensuring that people are treated fairly by unscrupulous businesses. Regulation is a vindication of state intervention and control. The alternative is seen as a free-market jungle full of hidden dangers and traps for the unwary and innocent.
It is less universally known that regulation was the method that the pre-war fascists used to pursue their political ends, contrasting with communism which sought instead to own the means of production. Post-war, regulation re-emerged in the 1980s when it was used to control newly-privatised state monopolies to make privatisation politically acceptable. And every country that followed the UK in their own privatisation programmes adopted regulation as the means of maintaining state control.

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Also see: Federal Regulations Have Made You 75 Percent Poorer 

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