The good, the bad and the ugly: Economic perspectives on regulation in Australia
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.
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IntroductionAdministering and complying with regulation is costly
Compliance is burdensome
Collateral damage and ‘friendly fire’: unanticipated effects of regulation
Overly prescriptive regulation
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
Self- and co-regulation
Good process is fundamental