A Little Bit Of Wisdom

This has to be one of the best comments ever (made to this WSJ opinion piece):

It is no accident that the most heavily regulated sectors of the economy cause the most problems: healthcare, finance, energy. Let's admit the failure of the federal regulatory model for most problems, and openly and honestly look for alternative approaches.

It always seems to be that way.

Whenever we've deregulated sectors of the economy, they have always picked up momentum, served more people more efficiently, all while lowering the costs. One example that comes to mind: the airline industry.

All regulation has ever done is to short circuit the market feedback systems, making the regulated sector far less responsive to the needs of the people, more expensive, and closed to competition. In many cases government regulation was sought by 'rent-seekers', those wishing to prevent present or future competitors from expanding there presence within or entering the market. In effect, the government is asked to decide the winners and losers within that particular segment of the economy. Unfortunately the government usually chooses the wrong party to be the winner, all to the detriment of consumers. What makes it worse is that sometimes these winners also receive government subsidies (yet another market-skewing device), hitting the consumers in the wallet again. It's a lose-lose situation for consumer and the economy.

It's about time the government butt out of the economy and let the market decide who wins and who loses. In the long run the consumers and taxpayers will benefit.