“Today, our governments ignore the things they should do while they interfere with the things they should leave alone.('we can't stand by and do nothing,' is a constant cry from interfering politicians who would serve the people and country better if they did stand by and do nothing.)”
-- Vernon Coleman
Sunset regulation
Idea for better regulation
All Regulations have to be re-justified after a defined period of time.
From EA magazine
- Through harmonisation of regulation represents an efficiency gain. However, harmonisation also prevents regulatory competition. From a dynamic perspective, the loss of regulatory competition will almost certainly entail large additional costs and inefficiencies. Regulatory competition can both restrain regulatory over-reach and also allow different approaches to regulation to be tried in different countries.
- With few exceptions, regulation at the EU level is simply not necessary to liberalise trade within the EU.
- Wage rates are set by market forces and levels of productivity. Legislation affects the composition of the ay package, but not the pay level. If legislators in one country insist on extensive fringe benefits and regulation that , for example , improves safety standards, these will come at the expense of lower cash salaries. The total compensation level has not increased; it has merely been shifted fro payment in cash to payment in kind.
- Regulation is being used to raise rivals costs and is becoming ever more centalised
- We do not need to unify regulation to have free trade.
- Regulators may be risk verse and over regulate, or they may have cognitive biases that lead them to regulate markets through "rule writing" which imply costs without improving outcomes.
Bad regulation
Quote 1169
“Lengthier and more extensive testing of new drugs has benefits and costs. More testing increases the safety and effectiveness of those drugs that reach the market, but more testing means fewer new drugs since many drugs become uneconomic to produce as costs increase. More testing also delays the use of beneficial drugs, drugs that could have reduced mortality and morbidity had they been available earlier. In short, regulation may deter and delay medical progress. ”
-- IEA
Socialists
Socialists are keen for the markets to be regulated, but not the state.
"In Continental usage, “unregulated” and “illegal” are much closer concepts than in places where lawmaking happens in English."
-- Daniel Hannan
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