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Ronald Coase

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"I can't remember [of a good regulation]. Regulation of transport, regulation of agriculture—agriculture is a, zoning is z. You know, you go from a to z, they are all bad. There were so many studies, and the result was quite universal: The effects were bad", in Reason, january 1997 (read online)

 
Ronald Coase

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We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.

 
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You can go to any major history and see the effect of unregulation. The very point of developing regulation around industrial society was that they were not only exploiting the workers to death they were befouling the planet, so regulation came because of that. What the right wing wants is for the public to have this role in the societal debate over balance of these issues and no power. The public power to confront these errors of industry is government regulation.

 
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