Thursday, November 12, 2015

Regulation...............................
















































"Regulation is often the enemy of competition.  Where regulation prescribes the conduct of business in considerable detail, it is inevitable that all firms will behave similarly:  a particular conception of 'best practice' will be shared between regulators and regulatees.  Incumbent firms with close links to agencies may use regulation to resist innovation and raise barriers to new entrants."

-John Kay,  Other People's Money: The Real Business of Finance

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