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Two newspaper essays I wrote this spring broached the idea of working on the regulatory process to boost its efficiency. The early responses are in.
Support is unanimous in all sectors and comes in three colors – white, red and black.
White-colored support says the idea is “right on target.” Red support says, “I can tell real horror stories about inefficient regulation.”
The black support says, “the worst of (business, government) will wreck the good idea from the start.”
No one thinks the process is as efficient as is.
Frequent readers know my thoughts: as business systems get more efficient, the efficiency of regulating must keep pace, but it has not. Regulation can speed up in the same way efficiency keeps climbing in commerce and industry through constant invention.
One hot July day I gave my pitch for invention to an audience of semi-retired scientists and engineers, former business professors, active businessmen and others of a practical bent. Support for the idea was wholehearted in the usual colors.
Two businessmen proposed that self-regulation is the most efficient. At first light, any idea is vague until we gather possible meanings and size up the pros and cons of each.
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