Deregulation: The Good, The Bad, and the Ugly

[AlexMerced]

YouTube - Deregulation: The Good, The Bad, and the Ugly (http://www.youtube.com/watch?v=gMUxYqTvRM4)

[BDR]

I like this video. It solidifies a concept I have been toying around with for a while now. Makes me think if we can pair regulations into risk removal and risk prevention (similar to cause and effect) that we should make a list of all these pairs, maybe this could help us focus on which regulations to target.

[AlexMerced]

glad you enjoyed, good to know I'm not the only one thinking it

[tangent4ronpaul]

Alex,

why do you assume that deregulation has to happen so slowly?

my own thoughts are to go agency by agency, and ask then to state their 10 most valuable regulations on a sheet of paper or less per regulation. Then document that the regulation has in fact done what it was intended to do. Take this list to Congress and spend a week debating if a particular regulation should stay in effect. The first question should be "is it Constitutional" and if the answer is no, it goes no farther. Then abolish the agency and all the other regulations.

I'm not so sure insurance companies are a good way to regulate via the private market either. In one state, a case was apparently won by someone claiming they should have been seen in the ER sooner. The insurance company told the hospitals to fire all of their EMT's and LPN's doing triage and hire RN's and Paramedics in order to protect their profits. It caused chaos. The already bad nursing shortage got worse and it caused a paramedic shortage on the streets.

In contrast, pharmaceutical companies used to do enough testing to determine if a drug was safe enough that they wouldn't get sued. This is before the FDA got involved. There really were not problems. Drugs made it to market in a couple of years instead of the 10+ years now, it cost tens of thousands of dollars instead of the 750 Million to 1.2 Billion per drug to get an FDA approval. Now many drugs are not developed because of cost or not large enough (or rich enough) of a market.

The FDA won't allow importing drugs and every attempt to deregulate them is met with cries of safety and the fear of counterfeit drugs.

Have you ever heard of a inexpensive drug getting counterfeited?
If drugs were inexpensive again, would this be an issue?

Incidentally, the way foreign drugs are banned is weird. For a drug to be approved in the US, the FDA has to inspect and control everything. They won't inspect a facility that is not owned by a US company.

This is also the reason 2 kinds of anti-venom will become unavailable. the demand is so low, that getting them approved under current regulations doesn't make financial sense.

You also didn't separate regulations made unilaterally by regulatory agencies and those mady by Congress.

Stossel was on tonight talking about regulation and the road to serfdom (a repeat) and one example was a hot dog stand where the city said the vendor had to get a 26 thousand vending wagon in order to sell bacon.

I knew of a start-up health food store and restaurant that went out of business before they opened their doors. What sunk them? getting up to "spec" on a handicapped restroom. It cost more than anything else.

If people get food poisoning from a product or have bad reactions to drugs - publicize that. They should also have legal recourse also. The market will route around the bad actors and probably put them ut of business if there are problems that aren't fixed. There is no need for government to stick it's nose in it at all.

-t

[AlexMerced]

Well my videos was mostly targeted at FInancial Regulation, but moreover the point was to dismiss the idea of a black and white debate, while deregulation is good, if ignore HOW we deregulate we set ourselves up as easy pickens for the statist media. The idea was to give people a more nuanced position, now healthcare insurance is different issue cause people have become dependant on healthcare insurance, and I'm in favor of outright getting rid of the FDA but I'm not as familiar with the nuance of those rules.

But as far as health and drug regulation, I've discussed that in other Videos, and that all falls more in the "government granting monopoly/protecting business from competetive risk" category

I never said anything about deregulating slowly, I just said carefully.