Apropos Austrian Aphorisms

the T(hesaurus)-Rex of blogs chomping on malapropos market malapropisms

Regulation

A common complaint, certainly when a crises occurs, is that there was not enough regulation. What is meant by regulation, however, is never really clarified. We just need it. For those who think this, or for those who encounter such people, does the thought ever arise to ask, "Can regulation ever be harmful?" because, at least to me, the assumption seems to be that individuals, without proper (but what is proper?) regulation, will mess things up. But could it ever be that the regulation messes things up? For those who decry deregulation as the source of our current economic problems, it would seem the answer is a resounding no.

How interesting something so fundamental is never questioned. Oh, but if it were regulation of speech or religion, well now...

(On a side note, I appreciate how Ron Paul responds when asked about regulation he will sometimes make the distinction between government regulation and market regulation. It seems the ol' regulation v. deregulation argument, then, is a straw man, and defenders of individual freedom and voluntary associations should clarify this distinction. No one, after all, is advocating the wily nily running around doing anything whatsoever.)

Published Wed, Sep 16 2009 8:32 PM by thedo
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