Home Policy Why Do You Believe Government Regulation Serves A Useful Purpose?

Why Do You Believe Government Regulation Serves A Useful Purpose?

0

We need government, but we need the government to understand its role better. Our constitution does not explain how. So I will.

It’s a significant question. Before I delve into it, let me share my perspective on the current state of the U.S. government. Despite its major constitutional flaws and the exploitation of these flaws by politicians, the idea of completely abolishing the government is not the answer. Reform is.

The performance of government today is mediocre at best because the government has failed to establish the gameplay of freedom every system must abide by to produce renewable value to the evolution of humanity. Hence government interferes and oversteps its role in attempting to stitch together a piecemeal implementation of freedom only when a system becomes too big to fail (but no sooner). More reason to get rid of government. But we shall not.

A malfunctioning car doesn’t mean we stop driving; we get a new one. Similarly, a flawed government doesn’t warrant the elimination of governance; it calls for us, ‘the people’, to assert our role in guiding the government. It’s our fiduciary and constitutional duty. So, let’s begin.

Any system we build, in the private or public sector, designed to embody and abide by the free-market principles to secure a meritocracy, thus becoming renewable, requires roughly the same amount of governance. For this simple reason, the characteristics of the marketplace participants (the public) are generally the same.

Any marketplace system of freedom must be protected by paradoxical rules of freedom to defend such a system from malfeasance by bad actors and then some. Governance is also needed to ensure short-term interest in the marketplace yields long-term value to the evolution of humanity. It does not harm the prospects of the marketplace participants of the future.

That may sound like economics speak to you, so let me make it easier. Can you envision a game of soccer without a referee? Read my article on Soccer Economics, written in 2013.