Vantage point

Thursday, March 16, 2006

I recommend!

Whenever someone puts forth the idea that government regulation would be done away with, several people who are distrustful of the intentions of big corporates cry foul, fearing that it would usher in an era where big corporates do anything unchecked.

I this this opposition arises because the supporters of regulation feel that when someone calls for removal of government regulation, he is also asking for the removal of the rule of law. That is not the case. What is actually being suggested is a strong rule of law where there are disincentives for wrong-doing in the form of punishments, and also provisions for compensation for victims.

Naveen Mandva makes this point very succinctly in his blog post Understanding Gawker and regulations much better. Do make it a point to read all the reports, studies and documents that he has linked to.