Jim Davidson wrote:
> A great many efforts have been made over the years to cure
> humans of their faults. Prohibition of alcohol was a
> famous effort of this sort. It resulted in the creation of
> a national police agency, the FBI, many national and
> international organized crime groups, and the loss
> of considerable profit by legitimate businesses. It also
> increased the consumption of alcohol.
Jim,
I think Alan Greenspan agrees with you.
Bob
"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 fund with him. Protection
of the consumer by regulation is thus illusory."
- Alan Greenspan
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