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Politics : View from the Center and Left

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To: JohnM who wrote (131781)	2/28/2010 11:38:09 AM
From: Lane3	Read Replies (1) of 541376

Regulation hardly converts private to public. Yes, I made that point several times. Regulation is the tool used by government to constrain private industry. If an industry is nationalized, that is, converted to public, then regulation is not in play. If you nationalized the banks, then they would no longer be regulated. They would operate off of internal policy, instead. Regulation by government implies the the regulated entity is non-governmental. The notion of regulation not only doesn't convert private to public, it becomes meaningless after conversion. Banking regulations were much tighter than they are now. It was a reasonably private industry then. The food industry is reasonably private but it's regulated, thank heavens. The drug industry, ditto. Banking, food, and drugs are regulated industries. More or less regulation does not make them more or less private. That they are regulated is indication that they are private.

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