On 06/08/2015 11:15 PM, lucanus@iinet.net.au wrote:
nuclear, which is knobbled out of the
competition by costly over-regulation,
Nice sentence! In just a few words, it equates
a) regulation
b) with over-regulation
c) with costly over-regulation
d) with gangsterism.
I would point out that in the real world, regulation is
multidimensional. It is possible for something to be
over-regulated in one direction and simultaneously
under-regulated in another.
Also: Not all regulation is costly. In particular it
seems likely that better regulation at Fukushima would
have /saved/ well over 100 billion dollars. Furthermore,
that cost was not borne by the free market, but was largely
socialized, via the virtual bankruptcy and nationalization
of TEPCO ... and via uncompensated losses to innocent
individuals. So once again, corruption leads to
privatization of profits and socialization of losses.
Remind me, what were we saying about the invisible hand?
Better regulation is not the same as more regulation,
and also not the same as less regulation. Integrity,
judgment, and skill are required.