Tangible proof as to why regulations are important. Red tape might suck for day-to-day operations, but it is vital to prevent major disruptions caused by allowing market forces to do whatever it wants. Markets optimize for profits over all other considerations, while regulations (when done right) prevent industries from taking dangerous risk or work against the benefit of a population for the sake of pure profits.
This is also why we did so well during the 2008 financial meltdown. Unfortunately those regulations were removed since thanks to Harper, so we’re just as vulnerable to such a meltdown as the US was at the time.
Unfortunately for the US, they’ve already been removing protections all over the place, including several states that have legalized children working in factories like the sort of practice that was banned after the Victorian era. And now, entire swathes of regulations are being deleted wholesale due to Musk, and it will only take a small bump somewhere to make entire industries to crash taking actual lives with them, not to mention livelihoods.
Regulation: slightly higher base prices, no major swings.
Just look at the Texas energy grid, where they had “low” power costs, until there was a crisis, and then people were charged hundred of dollars per kwh.
Tangible proof as to why regulations are important. Red tape might suck for day-to-day operations, but it is vital to prevent major disruptions caused by allowing market forces to do whatever it wants. Markets optimize for profits over all other considerations, while regulations (when done right) prevent industries from taking dangerous risk or work against the benefit of a population for the sake of pure profits.
This is also why we did so well during the 2008 financial meltdown. Unfortunately those regulations were removed since thanks to Harper, so we’re just as vulnerable to such a meltdown as the US was at the time.
Unfortunately for the US, they’ve already been removing protections all over the place, including several states that have legalized children working in factories like the sort of practice that was banned after the Victorian era. And now, entire swathes of regulations are being deleted wholesale due to Musk, and it will only take a small bump somewhere to make entire industries to crash taking actual lives with them, not to mention livelihoods.
Yea
Regulation: slightly higher base prices, no major swings.
Just look at the Texas energy grid, where they had “low” power costs, until there was a crisis, and then people were charged hundred of dollars per kwh.
That presumes that they even got power. A bunch of people died in their homes because of the outage.