Miguel Afonso Caetano on Nostr: #Regulation #State #Government #Antitrust #Competition: "In Public Choice Theory, the ...
#Regulation #State #Government #Antitrust #Competition: "In Public Choice Theory, the biggest companies in an industry have the strongest interest in capturing the regulator, and they will work harder – and have more resources – than anyone else, be they members of the public, workers, or smaller rivals. This inevitably leads to capture, where the state becomes an arm of the dominant companies, wielded by them to prevent competition:
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This is regulatory nihilism. It supposes that the only reason you weren't killed by your dinner, or your antilock brakes, or your collapsing roof, is that you just got lucky – and not because we have actual, good, sound regulations that use evidence to protect us from the endless lethal risks we face. These nihilists suppose that making good regulation is either a myth – like ancient Egyptian sorcery – or a lost art – like the secret to embalming Pharaohs.
But it's clearly possible to make good regulations – especially if you don't allow companies to form monopolies or cartels. What's more, failing to make public regulations isn't the same as getting rid of regulation. In the absence of public regulation, we get private regulation, run by companies themselves."
https://pluralistic.net/2023/10/23/getting-stuff-done/#praxis
(...)
This is regulatory nihilism. It supposes that the only reason you weren't killed by your dinner, or your antilock brakes, or your collapsing roof, is that you just got lucky – and not because we have actual, good, sound regulations that use evidence to protect us from the endless lethal risks we face. These nihilists suppose that making good regulation is either a myth – like ancient Egyptian sorcery – or a lost art – like the secret to embalming Pharaohs.
But it's clearly possible to make good regulations – especially if you don't allow companies to form monopolies or cartels. What's more, failing to make public regulations isn't the same as getting rid of regulation. In the absence of public regulation, we get private regulation, run by companies themselves."
https://pluralistic.net/2023/10/23/getting-stuff-done/#praxis