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The Forum > Article Comments > The only real regulation reform is deregulation > Comments

The only real regulation reform is deregulation : Comments

By Darren Nelson, published 8/6/2018

Deregulation is about reducing the economic and ethical burdens on businesses and consumers. This is done through removing both elements of, and entire, regulations.

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God this “stuff” of fantasy makes me laugh. Who is this expert attempting to fool?
Only himself obviously.

Here is the reality. Politicians make themselves look and (sadly), feel important and useful creating this “stuff”, called regulation. It's official, and comes with the tag of “forever” attached to it.

Meanwhile, over in Greece, the Greek economy failed not as a consequence of Greeks, (being the pragmatists they are), flowing their business models and personal lives around the dam-walls of regulation, but by the lack of Government resolve to police and enforce laws and regulations fairly: All of them.

If there is no respect for Politicians, then as a consequence, there is no respect for the work they are paid big bikkies to perform, IE creating regulations.

Meanwhile, back in Greece, all who possibly could avoided paying regulated taxes.
The Greek underground (black) economy flourished and grew, at an exponential rate of the Greek National debt.

If we need an example of how to balance reality with fantasy on the issue of regulation and control, look to the Japanese. With a national debt twice its GDP, it still manages to bump along juxtaposed with crime and corruption, and going deeper into debt to hide the fact!
Posted by diver dan, Friday, 8 June 2018 10:22:25 AM
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diver,
It says "Darren Brady Nelson is an Austrian School economist..." which effectively means he ignores evidence that doesn't fit his predetermined conclusions.

However, your assumptions about economics, though better than his, are also wrong. Though lack of enforcement of regulations was a problem, it wasn't actually what caused the collapse. Greece was also importing a lot more than it was exporting. That problem would have been self correcting if Greece had stuck to the Drachma. But since Greece had joined the Euro, the problem only got worse. And after the GFC, European regulations on government spending prevented the recovery.

Japan's national debt is nothing to do with crime and corruption. Its got far more to do with demographics. The Japanese people want to save; accounting identities mean that's impossible unless someone borrows. That someone is largely (but not entirely) the government. But it's not a problem at all - it's all in Yen so their credit is unlimited.
Posted by Aidan, Friday, 8 June 2018 11:30:18 AM
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CRA is an essential adjunct to good investment practice, as is CBA. And we have a hotchpotch of rules and regulations that can mean doing one thing in one state is legal and tolerated but illegal and forbidden in another.
Moreover, some regulations effectively forbid certain research only activities, where the potential advances, subject one industry to fair competition. They simply cannot compete with!
The lowest price we can get coal-fired power for would seem to be 6 cents per KwH? And that assumes ROM coal? And illegal? As is it would seem, are MSR's burning thorium?
Why?
Because an estimated price of 2.98 cents per KwH, would drive coal-fired power out of business! And because (carbon-free) MSR thorium only needs limited water in the surrounding, unpressurised water jacket, it doesn't need to be placed near a body of water!
And because it can be produced in small mass-produced factory-built modules and trucked to where they are needed, they don't need accompanying expensive transmission line nor a national body with their hand in the till?
Furthermore, when measured against comparative CRA and CBA beat coal-fired power hands down!
Why, the security guard out front cost more than the fuel! The only thing preventing this industry is idiotic rules and regulations and the insane elements that support them through fear, parsimonious pernicious propaganda and a quite massive madman (the sky will fall) fear-mongering!
Then we wonder why there is an energy crisis a quite massive and growing debt burden and an economy in a terrible exposed and weak position, waiting for the first real economic headwind to cripple it!?
Alan B.
Posted by Alan B., Friday, 8 June 2018 11:56:47 AM
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Thank you Aidan for the other view. I'm not to argue the merits of what you say, but there is an opinion out there which has a more pragmatic view. That other view, comes under the heading of tax dodging.
Tax dodging is an epidemic. Turnbull stands at the panicle of the dirty heap. (The Panama Papers).

When thirty percent of any economy is buried in tax evasion scams and schemes, there are serious consequences to society as a whole. This was Greece also.

I wouldn't argue the case, dodging tax was the entire cause of the failure of the Greek economy. But disregard to laws and regulations that are the tax system, could at the very least, stand accused of causing the collapse through excessive borrowings covering the shortfalls.

What I argue is, let's be active in implementing and policing all regulations without fail, and without favour. The opposite to what this author implies.
Posted by diver dan, Friday, 8 June 2018 1:14:10 PM
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Hear, and well said DD!
Our current tax rules and regulations are all that make any of this possible and should be jettisoned as if they were last month's scrambled and now thoroughly rotten eggs!
And replaced by a simple flat tax of just 15% PAYE or PAYG on any and all income above a threshold, minus any deductions. NONE!
And could kick in at $37.000.00 and be a limited sliding scale to offset hardness/dependents? Then coupled to means-tested needs-based education and health care endowments that you use when needed, or cash in as a bonus if you don't?
Along with regional autonomy that put public schools in the same category as private schools competing for every education dollar.
Or hospitals/GP's and clinics, who'd likewise have to compete for every public health dollar, as only the patients would/could decide when and where it was spent and for what?
And allow the general public to pay for what they really need as opposed to a veritable army of rule and regulation creating Bureaucrats!
Let's get as many of those snouts out of the trough and off the taxpayer-funded gravy train and instead direct the billions we could and should save at nation-building infrastructure projects.
Alan B.
Posted by Alan B., Friday, 8 June 2018 5:37:36 PM
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Let's get as many of those snouts out of the trough and off the taxpayer-funded gravy train and instead direct the billions we could and should save at nation-building infrastructure projects.
Alan B.
I have been bleating this very argument for more than 40 years. It is achievable but the Conservatives must give the working class a break otherwise the Left will continue to exploit a term or two of Coalition coffer filling & simply go out & blow the lot on vote-buying just to be in Government. The history is there for all to see that this is in fact a fact.
The way the snouts can be reduced in numbers is simply by natural attrition. It can safely be assumed that some 50% are really not performing any meaningful tasks & therefore are not needed. This is what Campell Newman should have done in Qld & he could still be Premier today & all of us would be better off now because of it's success it would snowball into the federal outfit. Throw in a National Service & all will be good. Anyone saying it wouldn't work let me say this; This proposal is probably the only approach no Government has tried & they keep going back to failed policies.
Posted by individual, Sunday, 10 June 2018 8:13:21 PM
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