With laws and regulations we usually miss the point.
The point is often not to regulate or to regulate, the point is to create smart regulation that actually accomplishes what it is supposed to without creating a new set of problems through the principle of unintended consequence.
As a result, we end up with lots of laws that sound good and have good intentions but which actually within the bigger picture may do more harm than good.
So the problem right now is that we do need regulation, since business won't-self regulate, but we do regulation very poorly.
In my own industry, real estate, I can identify billions of dollars wasted (serving no real social purpose) because of regulations created out of good intentions.
Good intentions are not enough, that is only the first step. The next step is to create regulations that actually make sense in the field and not only on paper.
Apr 27 2010 - 9:56pm