By the time the fraud has been discovered and the company has been successfully sued, the owners will have long moved on, leaving behind nothing but a shell with ownership registered in the Cayman Islands. (Lax regulation of companies is also part of deregulation).
In any case there are other areas of regulation, such as environmental protection. What will happen when those are relaxed?
I have the feeling that the survey discussed in the original article is overgeneralizing from narrow questions of regulation eg. surge pricing, labor markets, etc., and that the so-called liberaltarians probably would be far less skeptical of financial, environmental, & safety regulations, & would generally like to see more vigorous enforcement even when they don't want want more regulations.
In the common law system it would be up to a judge to make an estimation if such a question should happen. This is how common law operated for a long time. This allows judgment on a case by case bases where the judge can react to changing circumstances.
It has many advantages compared to a system where the government to literally pre-define every single thing in the economy and create specific regulation and test procedures for it, even if in most cases these things are not needed.
incompatible|5 years ago
In any case there are other areas of regulation, such as environmental protection. What will happen when those are relaxed?
webmaven|5 years ago
take_a_breath|5 years ago
nickik|5 years ago
It has many advantages compared to a system where the government to literally pre-define every single thing in the economy and create specific regulation and test procedures for it, even if in most cases these things are not needed.