Why we need more regulation, not less

Everybody complains about regulation. Regulation is criticised as a restriction of one’s freedom, of one’s capacity to innovate and exploit new opportunities. This discourse is frequent among ordinary citizens. It is a leitmotiv of businesses of all sizes. The last avatar of this regulation-bashing trend is the REFIT programme of the European Union, based on the work of the “High Level Group on Administrative Burdens” chaired by former conservative (CSU) Bavarian Minister-President Edmund Stoiber (final report “Cutting red tape in Europe”, July 2014, available here).

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