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Online usersPollWhat should the government do about ailing financial institutions? Nothing, except to back off and get out—as any Objectivist knows, intervention is treating the disease with the disease 84% Intervene judiciously—enough to avert a catastrophe that is otherwise imminent 3% Intervene massively—as it's doing 3% Nationalize the whole economy and be done with it. Bring on the USSA! 1% Something else (specify) 9% Total votes: 76
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Jamie Whyte praises proposed NZ Regulatory Responsibility BillSubmitted by Marcus on Sun, 2007-11-18 13:23.
In a recent article NZer Jamie Whyte suggests a new way to keep the quagmire of ever more legislation at bay based on a current NZ proposal. Perhaps he should have cut to the chase and suggested a constitution, however, even those countries with a constitution have the same problems of over-legislation. So perhaps this is not so bad a suggestion after all? November 6, 2007 That's a very bad law. Go back and do it again properly Jamie Whyte "When no amount of prior regulation reduces the quantity of subsequent regulation, it is clear that politicians' incentives to legislate are disconnected from any good that their laws might do. How can this preposterous situation be remedied? An attempt is currently before New Zealand's Parliament. The Regulatory Responsibility Bill aims to improve the quality of legislation by specifying principles of responsible regulation and requiring the sponsor of any new Bill to report on its compliance with these principles. The principles are simple and uncontroversial but still sufficient to rule out most recent British legislation. For example, one states that legislation should not diminish the rule of law by creating uncertainty as to whether actions are lawful. That would dispose of Britain's “incitement to hatred” laws. Another states that legislation should not diminish freedom of contract. That would rule out most employment legislation, which is little more than a conspiracy against freedom of contract. And the principle that a Bill should not be passed into law if its goal could better be achieved without it would do for almost all other legislation of recent years."
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