The good, the bad and the ugly: Economic perspectives on regulation in Australia
Chairman's speech
On 2 October 2003 the Chairman, Gary Banks, gave an address, The good, the bad and the ugly: economic perspectives on regulation in Australia, to the Conference of Economists 2003, Business Symposium at the Hyatt Hotel, Canberra.
Download the speech
- Contents
Introduction
Administering and complying with regulation is costlyCompliance is burdensome
Collateral damage and ‘friendly fire’: unanticipated effects of regulation
Substitution effects
Overly prescriptive regulation
Dangerous ‘cocktails’
The problem of regulatory overreach, or undue ambition
The seductiveness of controlling ‘market power’
How much help does David need against Goliath?
Section 46: is it broke?
Regulatory culture and capture
So what is ‘good’ regulation?
Working with the market
Economic incentives
Self- and co-regulation
Good process is fundamental
References