By JOHN BARTLIT
New Mexico Citizens for Clean Air & Water
The time has come for regulation to be more businesslike. A healthy dose of market zeal has been missing for too long.
Regrettably, politicking will not bring needed change.
One old campaign banner says regulation is the scourge of free markets. But that reading forgets that large-scale “free” markets owe their steady success to regulations.
Long-thriving markets are built on the bedrock of rules that standardize weights and measures, rules of contracts, and rules to enforce both.
After government had established these necessary parts, trade could reach across regions.
Another old snapshot says regulation stifles innovation. Whether it was true at one time, it is distinctly untrue today. Regulation today is a storehouse of unmet needs for inventions.
In the Digital Age, entrepreneurs search far and wide for new markets. The searches skim past regulation, as if it were fine as is. It is not fine.
Good prospects to innovate are overlooked, which leaves regulation encumbered with hobbly methods that innovations crowd out of other fields.