...You're being way too reductionist, buying the anti-regulation propaganda. To be sure, there's plenty of bad things to be said about regulations. But it's tremendously naive to believe that a lack of regulations - a case which we have recently experienced with the deregulation of the finance markets and of Wall Street, and the subsequent financial melt-down - will cure our ills.
There is ample evidence of corporate fraud in recent years, not the least of which is around the mortgage securitization processes.
We need a level playing field, with known, equitable rules, and with enforcement, and with judicial review.
Commit to regulation and a pro-governance model? Lose.
Commit to a corporate model and a pro-corporate model? Lose.
it's tremendously naive to believe that a lack of regulations ... will cure our ills. ... It's about balance.
You'll have to first account for two words: "regulatory capture".
Until you can find a miracle to get around that problem, regulation is in the long run destined to be turned inside-out and used to sustain the industries. Look no farther than the current debates about various IP problems for an example.
There is ample evidence of corporate fraud in recent years, not the least of which is around the mortgage securitization processes.
We need a level playing field, with known, equitable rules, and with enforcement, and with judicial review.
Commit to regulation and a pro-governance model? Lose.
Commit to a corporate model and a pro-corporate model? Lose.
It's about balance.