Over the last decade it has become popular in America, for people to chant the mantra that regulation is bad. This has perplexed me, because regulation is a basic tenant of civil society and capitalism.
Let us be clear; regulations are rules, and the fabric of our society is made from them. Our indoctrination starts early. The games we played as children all had rules. If you got caught cheating, at minimum, nobody would want to play with you. As young adults, in some circles, you might get a beating, or worse. This demonstrated that there are rules and punishments for violating those rules.
I’m sure you’re all familiar with the board game Monopoly. Like all games it’s got a set of rules that all the players must follow. As a thought experiment, try this;
Imagine you’re playing a game of Monopoly with four close friends. Midway through the game, pause and determine who is the highest ranked player, according to who has the most Monopoly money.
Inform the wealthiest player that the game is completely deregulated for them. They may make up the rules as they wish and self regulate. All the other players must abide by the rules of the wealthiest player.
It doesn’t take much imagination to determine the possible course of action by the wealthiest player. Naturally there is no way to determine if what this deregulated player does next is fair or not, because they are setting the rules. Is it likely that the deregulated player will make decisions that benefits them, and not others? You know that answer. That’s the very reason why we have rules, to ensure everyone gets a fair chance.
Capitalism is no different then any game. The players are given a set of rules for the location that sponsors the game. The objective is to become the wealthiest player, not the best world citizen.
In America we formed a democracy, which sponsors capitalism and utilizes our sovereign resources with the objective to advance our National goals. The democracy itself, was formed by and for the people. The rules, that the people set forth in the constitution and articles, are not for the benefit of capitalism, but to protect the institution of governance from the clutches of fascism.
The United States is still the largest consumer market in the world, If you don’t like the rules of the game, go play somewhere else. I promise you this, before you finish packing your bags, another hungrier, player will step in to fill your shoes, who’s willing to play be the regulatory rules that we set forth. The reason I can make that promise is because that’s how capitalism works. If there is a void in the market, someone will fill it.
Some call for smaller government, but what is really needed, is better government. Just as we have a separation of Church and State, we need to have a separation of Capitalism and State with the rules clearly set in favor of we the People.