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  • Regulation destroys free markets in 4 distinct phases: CONSOLIDATION - The regulators consolidate their power by making regulations that are popular. Sometimes they make regulations that the free market is already doing and then take credit for them. They use input from the biggest industry players to create regulations that the big firms are already doing. So the big firms are barely inconvenienced by the regulations, but the small firms have large compliance expenses. The goal here is to consolidate power and give the bigger firms an advantage. BULLYING - After power is consolidated, the regulators start playing favorites. They decide who the winners and losers are in the regulated industry. They start making regulations that are inconvenient and annoying, but they are powerful enough to silence dissent now. Free market innovations that do not please the regulators are squelched. Operating outside of the regulation is not allowed. MONOPOLIZATION - The regulated industry loses competitors and only a few big firms that have access to the government are allowed to survive. All of the smaller firms are driven out. Regulators can now shut down any firm and have absolute power. Barriers to entry are created to exclude new competition. NATIONALIZATION - The government now formally or informally combines with the few remaining industry firms. The industry leaders are just puppets now, the government can exert control from behind the scenes whenever they wish. The free market structure of the industry has been wiped out. It’s important to remember that regulation and law are different. Laws are passed by congress, which is elected. Ideally, laws are debated publicly and apply to everyone equally. Regulations are created by bureaucrats who are not elected and usually cannot be fired. This eliminates the accountability and transparency of the regulatory process.
  • Secretariat415: Regulation destroys free markets in 4 distinct phases: While I do agree in principle and support a free market, the thing is, laws and regulations are currently not passed in a vacuum. While I personally am against “all kinds of regulation” on a general level, I still see e.g. regulating to guarantee net neutrality as a good thing. This is because there already are laws in place that give existing companies too much power over society. The free market has already been destroyed. This is a global problem, so I’m not talking about the US specifically. If no monopolies existed, the situation would be different. But since we already have laws that guarantee strong positions for internet access providers, it makes sense to regulate what these companies are allowed to do. At least for as long as the laws guaranteeing their positions are in place. Being categorically against all regulation doesn’t make sense if one at the same time wants to keep already existing laws and regulations in place. That would just mean one supports the status quo and opposes change, which, by the way, is what the word “conservative” usually means. On a lighter note, I would like to quote a song by Dob Dylan. Now, I’m liberal, but to a degree I want everybody to be free But if you think that I’ll let Barry Goldwater Move in next door and marry my daughter You must think I’m crazy! I wouldn’t let him do it for all the farms in Cuba Bob Dylan (From "I shall be free No. 10)
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  • Tim Berners-Lee: we must regulate tech firms to prevent 'weaponised' web
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  • Tim Berners-Lee: we must regulate tech firms to prevent 'weaponised' web
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