When the political rhetoric abounds podium pushers often say more oversight is needed over business. One of the biggest issues with talk like this is that those who see such issues often say;
“We need more regulations”
But then what happens is that the authorities and regulators increase regulations, but due to lobbyists and incestuousness, the regulations that are put into play actually provide barriers to entry for competition, which is just about the only mechanism that free-enterprise (which really does not exist anywhere) has to prevent run-away abuse. So, increasing regulations never has its intended effect, rather it causes the law of unintended consequences and more of the same.
We live in the greatest nation in the history of mankind and this great country has succeeded thanks to capitalism, despite the bureaucracy, over regulations and incestuous and pathetic relationship between big business and government. I think you should read Ayn Rand’s Anthem, Atlas Shrugged, Fountain Head, as well as “The Business Side of Government” by Smoot and DiLorenzo’s latest book on capitalism and anti-trust.
Next, let me say that this nation has a GDP of 17 Trillion dollars, the whole world total is 55-60 Trillion. The second nearest nation is less than 6 Trillion. We have run away from the whole world and we proved capitalism works, despite all the debris we place on it, says; Milton Friedman and his wife in “The Right to Choose.” Adam Smith has some brilliant comments, and it’s time to understand the warnings of Karl Marx and “Das Capital” and then duly throw that work in the trash!