Of course they do, if enforced. The number of eight year-olds working in factories is substantially lower than it used to be due to regulations. *in modern democracies
If you do regulate. We currently have full regulatory capture in most industries and regulators that are doing their jobs are either hamstrung or the laws are so far behind the industries that they can’t or won’t work.
The key to proper regulation is to keep money and influence from pooling at the top, making it difficult for any single person to buy enough influence.
As it is, we have a dozen monopolies that should be broken up that are making a small section of the population so rich they are essentially above laws.
But, proper regulation can exist if people want it, and more specifically in the case of the USA, legislators want it. Unfortunately, Dems actively prevent it, and republicans are ripping it down, so the rest of us are kinda fucked.
Regulations can work if bypassing the regulation in question does not open up a market that is large enough to keep paying off the regulators.
For example, if there is only one regulator for a country, the companies can pay millions to get it eased up for them, because they can make billions from it.
But if there one regulator for each state, they equation will change and it might not be profitable to pay millions to a regulator of the state, because they cannot make enough profit from selling in the state to justify it.
That is the only way to make it work. Rules don't work forever. Incentives do.
..and you think those work?
Of course they do, if enforced. The number of eight year-olds working in factories is substantially lower than it used to be due to regulations. *in modern democracies
>if enforced..
There lies the problem...
https://news.ycombinator.com/item?id=46528718
If you do regulate. We currently have full regulatory capture in most industries and regulators that are doing their jobs are either hamstrung or the laws are so far behind the industries that they can’t or won’t work.
The key to proper regulation is to keep money and influence from pooling at the top, making it difficult for any single person to buy enough influence.
As it is, we have a dozen monopolies that should be broken up that are making a small section of the population so rich they are essentially above laws.
But, proper regulation can exist if people want it, and more specifically in the case of the USA, legislators want it. Unfortunately, Dems actively prevent it, and republicans are ripping it down, so the rest of us are kinda fucked.
Regulations can work if bypassing the regulation in question does not open up a market that is large enough to keep paying off the regulators.
For example, if there is only one regulator for a country, the companies can pay millions to get it eased up for them, because they can make billions from it.
But if there one regulator for each state, they equation will change and it might not be profitable to pay millions to a regulator of the state, because they cannot make enough profit from selling in the state to justify it.
That is the only way to make it work. Rules don't work forever. Incentives do.