> Actually, around here they are giving a second chance to people whom over-regulation of the work market made too expensive to hire.
Over-regulation being what, minimum wages? Coverage for basic social safety nets? ‘Cause that’s what we lost.
> It goes like this: (well intended) regulation => raise price of doing business => fewer startups => less competition => incumbents enjoying practically monopoly => incumbents behaving like monopolistic a-holes.
Bell system was broken up into seven different companies, thanks to regulation. It’s _lack_ of regulation that let telecoms merge together into behemoths. There _are_ small ISPs and telecoms in the US, they just can’t compete due to the size differential.
> In China. You forgot "in China". … Good luck promoting environmental regulation there.
Right, let’s jump for a Tu Quoque. China is destroying the planet so who cares what we do ¯\_(ツ)_/¯
I’m not blind to the existence of plain bad regulation, regulatory barriers and capture — but the overwhelming majority of these arguments have just been used to make regular people’s lives’ worse.
“Cheap housing isn’t being built in the UK because regulation makes it more expensive!” -> remove regulations -> there’s still no cheap housing but anything from 1990s onwards is now also badly built.
As a construction developer I’m sure I’d say there’s still too much regulation though. Gotta bump those margins.
One easy example is regulation making it hard to fire people. Then, naturally, firms will hire just as hard. The tradeoff is thus between a healthy, fast, dynamic and competitive job market with plenty of opportunities but with job insecurity and - fewer jobs, smaller salaries but the lazy unproductive bum slowing everybody down is now impossible to get rid of.
Yes, minimum wage is another. In effect it makes people whose work is worth less than the minimum wage - legally unemployable.
> Bell system
Bell system was a monopoly thanks to government regulation in the first place. The government actually passed a law that made illegal to connect a 3rd party telephone to Bell's network!
Yes, you need more regulation when your regulation f'd up a market. In free markets competition keeps market participants honest and even breaks monopolies. This is why one of the first regulation incumbents lobby for is meant to deter competition.
> Cheap housing isn’t being built in the UK
I do not live in the UK, but I am willing to bet everything that there is still a ton of regulation stopping building there. Last summer I visited London during a heat wave. We were sweating in our AirBnB, complained to the owner but he answered that he couldn't install an A/C because he wasn't allowed to change the building facade...
Over-regulation being what, minimum wages? Coverage for basic social safety nets? ‘Cause that’s what we lost.
> It goes like this: (well intended) regulation => raise price of doing business => fewer startups => less competition => incumbents enjoying practically monopoly => incumbents behaving like monopolistic a-holes.
Bell system was broken up into seven different companies, thanks to regulation. It’s _lack_ of regulation that let telecoms merge together into behemoths. There _are_ small ISPs and telecoms in the US, they just can’t compete due to the size differential.
> In China. You forgot "in China". … Good luck promoting environmental regulation there.
Right, let’s jump for a Tu Quoque. China is destroying the planet so who cares what we do ¯\_(ツ)_/¯
I’m not blind to the existence of plain bad regulation, regulatory barriers and capture — but the overwhelming majority of these arguments have just been used to make regular people’s lives’ worse.
“Cheap housing isn’t being built in the UK because regulation makes it more expensive!” -> remove regulations -> there’s still no cheap housing but anything from 1990s onwards is now also badly built.
As a construction developer I’m sure I’d say there’s still too much regulation though. Gotta bump those margins.