How does One properly bring down Communism; this could possibly be one of the Options. Conservatives have long ranted against Government regulation; in minutia, most of the criticism coming to the FDA and its regulations. This Country, though, has a relative trust for its eaten Products; noone fearing a purchase of Food from almost any Vender. We not only have dietary restrictions–so We do not have to eat horse meat unknowingly–but health inspectors ensure that We do not additional animal products embedded within the food. Recanted cooking oil is a problem even here, but no enterprise has made an industry out of it. It is done at the Vender level, and the people doing it must put up with the smell. They also witness their Customers abandon them as the Taste deserts their Product. There happens to be a very complicated Preference model which can be found somewhere–never studied it–with which you can determine the actual Business gain derived from each Nutrient regulation; it is actually a Profit, not loss, in Product Sales increase. The last was for Would-Be economists of the future.
The power of Polls shows that average Americans want better Regulation of Wall Street. The worst problem with Polls develops because of the ability of the Poll takers to derive the Answers through the method of framing the Questions. The trouble with Wall Street comes from average American ability to lose a huge amount investing in instruments which Wall Street promoters frame as safe products. It is really one of those areas where more intensive regulation could possibly make a difference; though it is an argument which is again adopted every Recession. Most Americans might be better protected by teaching them that the basic way to make Money is hard Work, and careful Planning. Can there be a great level of Safety in an industry dedicated to raising finance for endeavors which may or may not fail?
I decided that I would speak on Government regulation today; now, I ask myself How am I going to end it. I must say that Regulation has its place in the scheme of things, which inspires Trust of the Public and increases Profitability through higher Sales. Regulation, though, requires a relatively static market forum, with a relative Standard of high quality Production; trying to regulate systems with no real recognizable direction of responsibility can get nowhere. Any industry with too many potential Options for operations has no one to claim Fair or Foul. Choosing ad hoc Government regulators simply means that regulatory policy will change with personnel, and makes a bad situation even worse. There is no final Word on the Benefit or Cost of regulation, and even this strata will change with market conditions. I personally believe Less is Better, and the arena for regulation should be carefully chosen. lgl