Linked by Dmitrij D. Czarkoff on Fri 31st Aug 2007 08:54 UTC
Editorial This article is an answer to "Competition Is Not Good" by Kroc and reading it wouldn't be comfortable without switching to and from the original article. I wrote it just because I do strongly disagree with Kroc and I believe I can prove that he is not as close to truth as it may seem from the first glance.
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RE[3]: I agree
by SReilly on Fri 31st Aug 2007 13:31 UTC in reply to "RE[2]: I agree"
SReilly
Member since:
2006-12-28

I'm afraid that, considering the fact that most world economies are capitalist, regulation is a must. You state that regulation creates instability but have not provided any proof to back up your statement. If fact, any economics will point out quite clearly that exactly the opposite of your statement is true.

Just look at the Wall Street crash of 1929. Because of unregulated trading, millions of people lost they're life saving not to mention that it worsened an already terrible situation, namely the Great Depression.

More recent examples are WorldCom and Enron. Both companies where working in recently deregulated industries and anybody can tell you what happened there in more detail than this post allows for.

The evidence to back up my claim is common knowledge. Just because you don't believe in regulation does not mean it's not vital in a capitalist society.

To think otherwise has proven to be extremely detrimental to economies the world over, not to mention stupid.

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