Mish has an excellent summary of why our economy will not recover. So what to do?
1. Unregulate something, anything. We had deregulation of telephones, which brought fantastic results. We hard differently regulated banking which brought disaster. Something new would be unregulation. Introduce a field in which all regulations would be gone. Then as is the case with anarchy, there would emerge order from the chaos of the state.
A very good start would be our legal structure. Simple announce as of July 4, the state would not longer have any interest in legal matters, the free market would take it over. That is a very good idea, but unlikely.
So an alternative until people are mature enough for that, is to regognise what Kant pointed out, and this is a conflict of interest.
Unregulate medicine. We'll see in medicine what we saw in internet.
Unregulate power.
2. Since we will never get unregulation, we need to form a free place. Begin to draw the lines of New Hong Kong, as once they were drawn for a New York.
Feel free to forward this by email to three of your friends.
1. Unregulate something, anything. We had deregulation of telephones, which brought fantastic results. We hard differently regulated banking which brought disaster. Something new would be unregulation. Introduce a field in which all regulations would be gone. Then as is the case with anarchy, there would emerge order from the chaos of the state.
A very good start would be our legal structure. Simple announce as of July 4, the state would not longer have any interest in legal matters, the free market would take it over. That is a very good idea, but unlikely.
So an alternative until people are mature enough for that, is to regognise what Kant pointed out, and this is a conflict of interest.
Unregulate medicine. We'll see in medicine what we saw in internet.
Unregulate power.
2. Since we will never get unregulation, we need to form a free place. Begin to draw the lines of New Hong Kong, as once they were drawn for a New York.
Feel free to forward this by email to three of your friends.
3 comments:
Come on, John!
I have ultimate respect for you, but if "you" deregulate medicine, I will declare myself a doctor of medicine and get away with it for a while. I could make a fortune as a psychiatrist and probably never be questioned, but I wouldn't take up thoracic surgery.
I know that arbitration is the best solution to business disputes, but there has to be an ultimate enforcer of last resort and my Tommy gun needs oiling.
Hey, I know you are only doing some bar talk, and so am I.
I do get your point. The tendency to over-regulate is a symptom of the disease called bureaucracy.
(I hate that damned French word!)
Geo,
You and I know if medicine was deregulated you would not just declare yourself a doctor. Up to about 100 years ago, there was no ultimate enforcer except reputation in the field of medicine. Now we can debate if medicine is better under the new regime (I don't think so) but it is not debatable that for almost all of history, the ultimate enforcer was reputation.
I am not doing bar talk, I am looking at how to recover a productive economy when the one we have is over.
The over-regulation, any regulation is appealing to a false authority. If we want peace and prosperity we need to withdraw our consent to be governed by the state.
Love the TED video
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