Bright Line Regulation
05 July 2017 | Pago Pago, American Samoa
Over the last 8 years, we’ve seen one of the greatest increases in regulatory burdens for corporates. Just three sectors, banks, energy and the industrial sector, have almost $85 billion a year of incremental cost associated with major regulations.
The problem is ever more complex regulations are forever increasingly tailored to meet the incessant and increasing quibbling of those regulated. Our's is the wrong approach.
In our daily lives we largely get by with the ten commandments. Simple enough. Market regulation should be the same with sharp, bright, general lines for minimal regulations. Then throw the book at violators and don't listen to them complain about they didn't know because the regulation was not specific enough.
Their burdened victimhood is self inflicted coming and going.