Ruchir Sharma on America’s Debt and the Future of Capitalism
Ideas of India
Reform or Irrelevance: The Dual Paths of Regulation
The impact of regulation can be addressed in two primary ways: reforming existing laws to decrease their burden or making regulations irrelevant through technological advancements. While traditional deregulation focuses on repealing laws and removing price controls, recent examples, such as the taxi system in New York City, illustrate how technology can circumvent regulatory barriers. The emergence of Uber, enabled by innovations in smartphones, GPS, and digital payments, demonstrates how effective technology can render rigid regulations obsolete without formal deregulation.
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