“People in finance hate government regulation. But if we didn’t have regulation, then the industry would fall apart under the cumulative weight of a million scams. Regulation builds trust. Trust attracts investment.”
This point connected so many things for me! It applies to everything that runs as a system - every industry and every inst…
“People in finance hate government regulation. But if we didn’t have regulation, then the industry would fall apart under the cumulative weight of a million scams. Regulation builds trust. Trust attracts investment.”
This point connected so many things for me! It applies to everything that runs as a system - every industry and every institution. It’s equally apt advice for anyone trying to run a family or a school or a sports team or a business or a government.
*No one* likes regulations. But people also *need* regulations. In a system without rules, there are no penalties for cheating. This leaves little incentive for people *not* to cheat. When people cheat, no one trusts the system and then the system breaks down.
“People in finance hate government regulation. But if we didn’t have regulation, then the industry would fall apart under the cumulative weight of a million scams. Regulation builds trust. Trust attracts investment.”
This point connected so many things for me! It applies to everything that runs as a system - every industry and every institution. It’s equally apt advice for anyone trying to run a family or a school or a sports team or a business or a government.
*No one* likes regulations. But people also *need* regulations. In a system without rules, there are no penalties for cheating. This leaves little incentive for people *not* to cheat. When people cheat, no one trusts the system and then the system breaks down.