Re:The End of the Financial World as We Know It
by anamax on Sunday January 04, 2009 @05:04PM
(#419602)
> The problem occurs when the regulated do the regulating, whether by infiltrating the government, bribing congress, or actually writing the laws.
It's poor form to not mention that said problem always occurs.
It's also poor form to not mention that all of the monopolies/oligopolies mentioned were created and/or maintained by govt action.
Regulation is one of those govt actions. Regulation gives Walmart an advantage over every Mom&Pop because even at its best, regulation is a fixed cost that Walmart can spread over more transactions. At its typical, Walmart gets a deal that no one else gets.
It's poor form to not mention that said problem always occurs.
It's also poor form to not mention that all of the monopolies/oligopolies mentioned were created and/or maintained by govt action.
Regulation is one of those govt actions. Regulation gives Walmart an advantage over every Mom&Pop because even at its best, regulation is a fixed cost that Walmart can spread over more transactions. At its typical, Walmart gets a deal that no one else gets.