Re:The FCC has repealed a 42-year-old rule blocking broadcas...
by rayiner on Thursday November 16, 2017 @06:09PM
(#15717550)
> Most are there to prevent some monstrous or dystopian consequence of unfettered capitalism that we as a society have decided is undesirable.
When regulations aren’t designed to address identifiable market failure modes, like for example a natural monopoly or negative externality, they’re usually driven by vague public interest handwaving. Economic theory is hardly infallible, but it’s a lot better of a basis for law than that.
Re:The FCC has repealed a 42-year-old rule blocking broadcas...
by wfo on Tuesday November 21, 2017 @10:00AM
(#15748239)
The public interest is not handwaving, it is the entire purpose of govermnent. Under your definition laws banning slavery for example are "public interest handwaving".
When regulations aren’t designed to address identifiable market failure modes, like for example a natural monopoly or negative externality, they’re usually driven by vague public interest handwaving. Economic theory is hardly infallible, but it’s a lot better of a basis for law than that.