Regulation vs. Regulation

The double-speak never ceases. Politicians on both sides can't seem to avoid talking about regulation and capitalism. Democrats afraid of appearing too socialist claim to uphold free enterprise principles but allow for safety nets and programs that take the excesses out of business cycles of boom and bust. Republicans afraid of appearing pro-greed claim to want to reduce only the onerous regulations, and keep only the "common sense" statutes.

I've always disliked the very term "common sense". It usually just means "I'm too lazy to actually think through the principles involved."

So on the subject of "regulation" let me quote the immortal Mandy Patinkin of Princess Bride fame: "Jhoo keep useen that wohrd. I donna think eet means whahtchew think eet means."

The problem is that when Conservatives talk about regulation, they mean the rules of order we need to keep competition fair in business. The laws that make cheating on earnings statements illegal, for example.

Liberals, Progressives, and Nancy Pelosi style Democrats aren't talking about rules of order when they talk about regulating capitalism. For them, regulation rather refers to rules to prevent what they consider too much winning--to moderate the very competition itself, regardless of how neutral and fair the rules of order already are.

It's a distinction with a difference, so let us listen and read carefully to understand which meaning our politicians are referencing.

So on the subject of "regulation" let me quote the immortal Mandy Patinkin of Princess Bride fame

Comments

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