17th May 2018
The massive disciplinary power of reputation – that’s why we don’t need unnecessary “regulators”
This came in attached to one of the online purchases I had recently made (a remote control from Alibaba Express for an old TV).
Says it all. And yet we keep running after “regulators” and “licensing”.
Let’s strengthen the market’s reputational mechanisms. That will allow us to disband most regulators. Some of you might recall that I wrote about it here.