Permission to Work
Tom Bowden highlights an interesting article in the WSJ. To me what's most interesting is that, just like the guilds of yesteryear, most of the regulation is demanded by the very people who'll be regulated. If that's not an argument for increasing the general (philosophical, historic and economic) knowledge of the average person, I don't know what is.
posted by Amit Ghate at 6:41 PM
1 Comments:
It has its twisted logic to it. Think systematic regulatory capture, with a dose of a naivete: those who demand to be regulated imagine themselves being in charge of what regulations are set, not just for the anticompetitiveness but use of force to promote image control via means of quality control.
Thus, also just like ye guilds of olde, ever has it been thus. This includes the paternalist attitude on the part of government and the acquiescence in this by people at large. There's more than just a lack of specific knowledge on the part of those people at work, here.
JJM
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