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Have anyone lost any of their faith in deregulation?

Discussion in 'BBS Hangout: Debate & Discussion' started by glynch, Aug 9, 2002.

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  1. glynch

    glynch Member

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    As taught over and over again in Business 101, MBA 101, Readers Disgest, etc. the principle wrong with any area of the economy is always government regulation.

    Lately we have seen that key industries that have been deregulated such as the banks/brokerage houses, telecommunications, energy and airlines are all falling apart. Often this is due to just corruption and collusion which the regulations helped to curb, but in other cases it is due to the inability to make a profit such as the airlines. Given the importance these industries to the economy as a whole it would be a disaster if we have too many failures so government might have to step in and bail them out.

    Just wondering if any of those who have a strong belief in deregulation and virtually unregulated markets might be questioning their faith.

    I continue to think that we have to accept that impirically some industries and markets just need a lot of government regulation.

    In the future when we have ithese types of industries buying politicians to cut out the regulators in their areas, we must be more careful. e.g. Enron.
     
    #1 glynch, Aug 9, 2002
  2. Refman

    Refman Member

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    I fervently believe in deregulation. It is good for business, which in turn will equate to more jobs and more prosperity. I have not lost faith in it. The problems you have brought up can all be solved on existing criminal and civil laws. The antitrust laws, as well as corporate responsibility legislation are the primary ones. We don't need more regulation...we need to enforce the laws currently on the books in order to combat these problems. I think that will happen more and more from this point forward.
     
    #2 Refman, Aug 9, 2002
  3. MadMax

    MadMax Member

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    I've lost my faith in deregulation of industries that already had boards or commissions in place to protect consumers through the regulation of price....like the energy industry. and industries where ultimately the new competitors are doing nothing more than renting space from the public utility that preexisted them...like the energy industry! i just don't see the value in that....
     
    #3 MadMax, Aug 9, 2002
  4. Refman

    Refman Member

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    Email or call me and I'll explain what I think the value of that is. I'm always willing to enlighten my fellow man. :D
     
    #4 Refman, Aug 9, 2002
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