-Caveat Lector-
Tenorlove wrote:
I don't know about abolish; after all, they refused to approve
thalidomide for morning sickness, saving thousands of U.S. babies from
horrible birth defects.
MJ:
What of all the deaths from delays, bloated costs and failure
to approve otherwise legitimate products?
Regard$,
--MJ
Regulation - which is based on force and fear - undermines the
moral base of business dealings. It becomes cheaper to bribe a
building inspector than to meet his standards of construction.
A fly-by-night securities operator can quickly meet all the
S.E.C. requirements, gain the inference of respectability, and
proceed to fleece the public. In an unregulated economy, the
operator would have had to spend a number of years in reputable
dealings before he could earn a position of trust sufficient to
induce a number of investors to place funds with him. Protection
of the consumer by regulation is thus illusory. -- Alan Greenspan
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