I’d argue that they’ll point first at the government, or lazy employees, or thieves, or anybody BUT themselves.
So, you want to blame human nature. Your contention is that the business person can be expected to lie in order to absolve themselves of fault.
The “human nature” argument, unfortunately, cuts both ways. If you assum the businessman will lie to absolve themselves of fault, then so will the pro-regulation politician.
Unless you want to make the case that politicians are morally superior individuals. (I doubt you want to die on that hill.)
Usually businesses operate on a shorter-term basis than is best for society. Regulation often serves to integrate long-term considerations into business decisions.
That’s true, but it’s another item that can be blamed on regulation. :-). You have to think short term when the government is forcing you to file quarterly financial statements, and your stock is going to go up or down depending on what’s in those statements.
In my view, we should stick to annual reports and ditch the quarterlies.
That, at least, is the ideal. And we all know that the ideal is never achieved. But it does help.
That runway you describe is akin to threading a needle while riding a bicycle.
I don’t think that this has anything to do with regulation.
Well, those papers specifically disagree. There may indeed be relevant shifts in the capital/labor equation, but if so, then reality is making bootstrapping more difficult, making the effects of regulation on small business even more heinous.
And small business is the driver of our economy. Combined with the documented effect of Dodd Frank making capital more difficult to obtain…….
We’ll be seeing the same thing soon with the advent of driverless vehicles. A lot of truck drivers and cab drivers will be out of a job as high-capital driverless vehicles replace them. Capital replaces labor. This is the fundamental force wreaking havoc with our societies. It will require profound shifts in our social structure, including large transfers of wealth from the owners of capital to those whose labor loses most of its economic value.
I agree that this specific shift is on the horizon. Technology drives the economy to change faster than the labor force can adapt.
This transition is likely to be a bit rough.