Amit Ghate has a new OpEd in the September 12, 2010 edition of PajamasMedia, “Risk and Regulation“.
Here’s the opening:
Every day we witness regulators denying people their freedom of action: The FDA prevents patients from taking potentially beneficial drugs; the SEC restricts the types of securities investors can buy; the FAA sets such detailed “guidelines” that airplane designers and owners find it difficult to innovate and operate profitably. Beyond these are the innumerable regulatory obstacles which individuals and firms must constantly surmount.
As economic activity dwindles, and tea party activism rises, some Americans are now beginning to question the most flagrant of these rules and regulations. But that alone won’t suffice. If we’re to truly effect fundamental and long-lasting change, we must identify, examine and challenge the basic premises responsible for the regulatory state…
(Read the full text of “Risk and Regulation“.)
Ghate nicely dissects the fundamentals of the regulatory state and shows how it thwarts the individual’s freedom to act on his own best judgment for his benefit.
Congratulations, Amit, for another fine essay!