With more power comes more corruption
I question Mark Senediak's faith in big government to strictly regulate business as expressed in his June 2 letter ("Government Is a Safer Bet Any Day Over Corporate Giants").
Yes, the government has a genuine role to play to protect the public from dishonesty through the criminal justice system by fairly prosecuting wrongdoers. There is also a place for the limited government regulations.
Government is like a referee in a sporting event. If the referee plays a greater role in defining the outcome of the game than the players, then something is seriously wrong.
The popular wisdom seems to be that if we had stricter regulations, then we will all be safer because the government would protect us from the bad guys.
But those who believe this forget that the bad guys don't go away when you increase regulations, they just pay off the politicians and regulators, and thus become more powerful and dangerous than they would have been with less regulation.
As economist Milton Friedman pointed out, there are no angels in government. Those working in government can be just as dishonest as those in business. That's why it's important to limit, not increase, the power of government in case it falls into the wrong hands. Giving government more power through increased regulations just escalates the temptation for wrongdoing.
Furthermore, restrictive regulations discourage business expansion, innovation and job creation and drive more jobs overseas.
Do we want to live in a world where geniuses, risk-takers and job creators are presumed guilty until proven innocent while corrupt politicians with golden tongues fill their pockets with the bribes of crooks as the rest of us suffer economic deprivation and live empty lives?
DAVE MAJERNIK
Plum
Yes, the government has a genuine role to play to protect the public from dishonesty through the criminal justice system by fairly prosecuting wrongdoers. There is also a place for the limited government regulations.
Government is like a referee in a sporting event. If the referee plays a greater role in defining the outcome of the game than the players, then something is seriously wrong.
The popular wisdom seems to be that if we had stricter regulations, then we will all be safer because the government would protect us from the bad guys.
But those who believe this forget that the bad guys don't go away when you increase regulations, they just pay off the politicians and regulators, and thus become more powerful and dangerous than they would have been with less regulation.
As economist Milton Friedman pointed out, there are no angels in government. Those working in government can be just as dishonest as those in business. That's why it's important to limit, not increase, the power of government in case it falls into the wrong hands. Giving government more power through increased regulations just escalates the temptation for wrongdoing.
Furthermore, restrictive regulations discourage business expansion, innovation and job creation and drive more jobs overseas.
Do we want to live in a world where geniuses, risk-takers and job creators are presumed guilty until proven innocent while corrupt politicians with golden tongues fill their pockets with the bribes of crooks as the rest of us suffer economic deprivation and live empty lives?
DAVE MAJERNIK
Plum