All Posts Tagged With: "deregulation"
Free Markets Are Regulated
The question is not to regulate or not to regulate, but which type of regulation – market rules or State discretion – works better.
26May2011 | Steven Horwitz | 15 comments | ContinuedGuilt by Corporate Association
Economists who support deregulation while having links to corporations should not be accused of being shills without clear and specific evidence of a quid pro quo.
19May2011 | Steven Horwitz | 7 comments | ContinuedSafe Food at Any Cost
We all want safe food. Question is, how do we get it? “There oughta be a law” seems to be the generally conceived approach, as evidenced by recent passage of the now-famous food safety bill. A tidy and altogether comforting solution: Simply slay the beast of dangerous food with the bludgeon of enlightened bureaucracy. But [...]
21Apr2011 | Paul Schwennesen | 1 comment | ContinuedWhat Economic Freedom Indexes Leave Out
In a syndicated column last October, television journalist John Stossel lamented the downgrading from sixth to eighth place—“behind Canada!”—of the United States on the Heritage Foundation/Wall Street Journal Index of Economic Freedom. The Index is based on several metrics, including freedom of movement of capital, the degree of business regulation, and levels of taxes and [...]
24Feb2011 | Kevin A. Carson | 6 comments | ContinuedThere’s Too Little Trust in Government?
There is one point on which I can unequivocally agree with E. J. Dionne, Jr.’s, column “Can We Reverse the Tide on Government Distrust?”: “So far, the Obama administration has missed the opportunity to demonstrate . . . how it is changing the way government works. How is its approach to . . . regulations [...]
22Oct2010 | Charles Johnson | 2 comments | ContinuedHave Pro-Deregulation Economists Been Bought?
Charles Ferguson’s article commits two common errors made by critics of free markets and free-market economists.
7Oct2010 | Steven Horwitz | 12 comments | ContinuedRegulation Red Herring
Most people believe that government must regulate the marketplace. The only alternative to a regulated market, the thinking goes, is an unregulated market. On first glance that makes sense. It’s the law of excluded middle. A market is either regulated or it’s not. Cashing in on the common notion that anything unregulated is bad, advocates [...]
5Jun2009 | Sheldon Richman | 1 comment | ContinuedTGIF: Regulation Red Herring
Most people believe that government must regulate the marketplace. The only alternative to a regulated market, the thinking goes, is an unregulated market. On first glance that makes sense. The rest of TGIF, “Regulation Red Herring,” is here.
5Jun2009 | Sheldon Richman | 0 comments | ContinuedThe Dynamics of Disintervention
1) government interventions into the market process tend systematically to generate unintended consequences; 2) many of these unintended consequences frustrate the announced goals of those who support the interventions; 3) the response to these frustrated intentions tends strongly in the direction of further intervention; 4) the economic system performs less effectively in coordinating the plans of buyers and sellers as it becomes burdened with the cumulative effects of an increasingly chaotic mix of interventions; and 5) the process comes to an end when these cumulative effects result in a major system-wide crisis and public choosers decide to reject interventionism in favor either of comprehensive planning or radically freer markets.
21May2009 | Sandy Ikeda | 3 comments | ContinuedAIG Unregulated?
The story persists that AIG did what it did because it was “unregulated.” This implies, without evidence, that regulators would have understood the problem and would have done something. The New York Fed and others regulate the big Wall Street banks and look what happened.More fundamentally, we should understand that while credit default swaps were, [...]
6May2009 | Sheldon Richman | 0 comments | ContinuedRegulation Will Stop Future Madoffs? It Just Ain’t So!
Bernard Madoff is a boon to financial regulation advocates. A well-known Wall Street figure, he confessed to defrauding his clients of $50 billion, an amazing number. It is now established conventional wisdom, blared across the media, that this and other financial disasters would likely not have happened had there been proper government supervision. With deregulation [...]
24Apr2009 | Chidem Kurdas | 8 comments | ContinuedThat's Politics for You
I found this interesting tidbit in Wikipedia’s entry on the Gramm-Leach-Bliley Act: Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act… G-L-B, the last significant bank deregulation that occurred in the U.S., repealed the part of the New Deal’s Glass-Steagall Act that forbade a single institution [...]
12Mar2009 | Sheldon Richman | 0 comments | ContinuedSyllogism
Government takes over regulation of an economic activity from the market process. Government regulation fails to prevent the bad it was intended to prevent. Ergo, the market is incapable of regulating itself, requiring more government regulation Addendum: This, of course, can be made more general: Government assumes responsibility for the economy as a whole (the [...]
9Feb2009 | Sheldon Richman | 0 comments | ContinuedMaddow on Madoff
Here is an email I sent today to Rachel Maddow of MSNBC. It refers to her coverage last night of the Bernard Madoff story which condemned “deregulation” for letting Madoff get away with his alleged scan. Dear Ms. Maddow: Why do you call the government’s failure to pursue fraud allegations in the Madoff case “deregulation”? [...]
5Feb2009 | Sheldon Richman | 0 comments | ContinuedBailout Hypocrisy
Thud. That was the sound of the other shoe dropping. In response to severe problems in the credit markets, thanks to years of government intervention, the Federal Reserve—the government’s counterfeiter and chief culprit in the current crisis—has opened its discount window to the investment banks. Interest rate: 2.5 percent. Until recently, only commercial banks could [...]
1Jun2008 | Sheldon Richman | 0 comments | ContinuedThe New Sweden
Waldemar Ingdahl is director of Eudoxa, a liberal think tank in Stockholm, Sweden. The European Social Model is being heavily discussed in Europe. Some still laud it, but its problems are obvious, with low economic growth, an aging population coupled with “pay-as-you-go” pension systems, and widespread persisting unemployment. In Sweden we have already solved this [...]
1Mar2007 | Waldemar Ingdahl | 5 comments | ContinuedEurope: Still a Laggard Economy
There have been increasing signs of optimism from European economy watchers. After some years in the doldrums, with slow growth and rising unemployment, things appear to be looking up: labor markets are more efficient; growth was good for 2006; and the euro is doing well against the dollar after years of weakness following its inception [...]
1Mar2007 | Norman Barry | 0 comments | Continued-
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