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by reciprocity
438 days ago
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Haven't you seen the documentary Inside Job covering the 2008 financial crisis? "Burning it all down and starting over" is a very immature and myopic perspective and cannot be taken seriously as a workable solution. The solution is to implement regulation that, very broadly here, enacts mechanisms to make private gain for public loss something incredibly difficult to do. There need to be checks against people in positions of great wealth, power, and influence because people cannot be trusted to self-regulate and Do the Right Thing when large sums of money are on the table. "Self-determination of a conflict of interest is itself a conflict of interest." [0] https://en.wikipedia.org/wiki/Inside_Job_(2010_film) [1] https://www.youtube.com/watch?v=T2IaJwkqgPk [2] https://www.bloomberg.com/news/articles/2025-02-05/white-hou... |
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... in your opinion. More regulation will just lead to more and more ineffectual bureaucracy. "More regulation" as an answer is why nothing gets built in California. "More regulation" is why the Vogtle Unit 4 in Georgia took 20 years to permit and complete, whereas the same can be done in under 5 years in China. "More regulation" is why it takes 10 years and $3 billion dollars to bring a pharmaceutical to market in the U.S.
More regulation simply empowers the parasitical lawyers to gum up the works even further. It doesn't produce better outcomes, it produces far fewer outcomes.
Burn it down. Send Marc Tessier-Lavigne, Bharat Aggarwal, Ching-Shih Chen, Carlo M. Croce, Andrew Jess Dannenberg, John Darsee, etc etc etc to prison. Start over again clean.
People who resist this idea act as if we're realizing incredible progress and all that would be lost. We aren't. Science and medicine are very, very stagnant, sclerotic, and riddled with fraud. The liberal arts are almost entirely useless (from a taxpayer's perspective).