> Which is very much what Europes market looks like today. Stasis and shifting to a stagnating middle.
Preferable to a burgeoning oligarchy.
Preferable to a burgeoning oligarchy.
one day some historian will be able to pinpoint the exact point in time that europe chose to be anti-progress and fervent traditionalist hell-bent on protecting pizza recipes, ruins of ancient civilization, and a so-called single market. one day!
In a rigidly regulated market with preemptive action by regulators (like EU, Japan) you end up with a persistent oligarchy that is never replaced. An aristocracy of sorts.
The middle road is the best. Set up a fair playing field and rules of the game, but allow innovation to happen unhindered, until the dust has settled. There should be regulation, but the rules must be bought with blood. The risk of premature regulation is worse.
That's an awfully callous approach, and displays a disturbing lack of empathy toward other people.