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Originally Posted by transplant99
All fine and dandy...but IMO you dont start making such changes in a recovering economy. It will only make said recovery take even longer.
Things will get better eventually, and likely even as good as things were about 6 years ago. Thats when you start to implement such massive overhauls of this magnitude.
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There's the problem though......when the economy is strong, we're afraid to "Take the steam out of the economy". Realistically, there is never going to be a "Good" or "Right" time to implement change. We just have to do it (assuming we're committed to change).
I've seen this cycle a number of times over the past (say) 30 years. The only difference is that every time we dodge the issue, we make it harder and much more painful to deal with at the next opportunity.
If I had to pick a time to implement change, I would actually choose the beginning of an economic cycle. Creating the ground rules and letting the market build around them just seems (intuitively, to me) better than giving existing businesses a bunch of new rules mid-stream. Dunno.