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...
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...