Monday, September 22, 2008

Does America have too much regulation - or too little?

As I am not a citizen of the US, I can afford to cock a snook at both Presidential candidates.

It is interesting to see Mr Obama reminding the US: "There’s only one candidate who’s called himself ‘fundamentally a deregulator’ when deregulation is part of the problem.”

However, Mr Obama clearly does not understand (as Mr McCain does not understand) that the problem is not whether there is too much or too little regulation in the USA.

The problem is rather that the US has too much regulation of the wrong kind.

What it needs is very much less regulation, but regulation of the right kind.

What is the right kind of regulation? That which tends to create global transparency, reliability and steady growth (as distinct from boom-bust) for the economy. Sphere: Related Content

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