Quote:
Originally Posted by GGG
Every business is regulated in some way. Regulation is a necessary control of capitalism. Look at the mortgage crisis, Enron, etc were all caused by a lack of regulation.
The minimum amount of regulation required for the public good should be applied. The current level is obviously too high but there is some that should be required. The idea that we live under pure Adam smith capitalism is very incorrect.
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Except regulations have little to nothing to do with the level of service that was suggested in that post. Markets decide what is good and what isn't.
Otherwise the current city regulations have failed epically at providing the necessary service that taxis should be providing and instead their ridiculous protectionism has paved the way for ineptitude at every level.