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Thought To Ponder
Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. A fly-by-night securities operator can quickly meet all the S.E.C. requirements, gain the inference of respectability, and proceed to fleece the public. In an unregulated economy, the operator would have had to spend a number of years in reputable dealings before he could earn a position of trust sufficient to induce a number of investors to place fund with him. Protection of the consumer by regulation is thus illusory.
Living Economics; Yesterday, Today and Tomorrow
31 May 2012
Dr. Peter J. Boettke
Hope you enjoy the following video interview of Dr. Boettke by Jeffrey Tucker of Laissez Faire Books and Club.
You can order your copy of the book here…