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In order to believe that the buying and selling of ownership shares in businesses doesn't need regulation, you have to be willing to believe that almost none of the businesses who would be selling unregulated shares of their future income would ever engage in fraudulent activity or that people would just stop investing in such shares if the government stopped enforcing their interests.  Are either of those really realistic beliefs to have given frequent news items regarding investor fraud, insider trading, unregulated hedge fund activities, etc.?

Compare it to another issue for illustration: Do you believe it would be better policy for the government to ban marijuana commerce entirely, as is usually the case today, or to regulate it? Why or why not, and whom would benefit or be harmed either way?

by santiago on Thu Aug 26th, 2010 at 05:06:21 PM EST
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santiago:
Compare it to another issue for illustration: Do you believe it would be better policy for the government to ban marijuana commerce entirely, as is usually the case today, or to regulate it? Why or why not, and whom would benefit or be harmed either way?

I would say that drug regulation depends on how spread it is in the particular society. Banning commerce (outside medicinal proscription) of drugs that are not commonplace appears sometimes to be effective to prevent it from entering, while not effective when it comes to drugs that are already established.

I think this answer illustrates that it depends on the situation...

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by A swedish kind of death on Fri Aug 27th, 2010 at 05:31:16 AM EST
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