Regulation and the Second Law of Thermodynamics

Regulation and the Second Law of Thermodynamics

“It has become plain that the original regulatory scheme of 1933 is beyond the point where minor patching will work anymore, and is probably beyond the point where even serious repair can rescue the original model. Entropy has overtaken federal securities regulation. Some might argue that this fact demonstrates that any attempt to regulate the financial markets is ultimately futile. However, I believe that our experience with securities regulation merely proves that every regulatory scheme has a natural lifespan.”

[Source]

Skills

Posted on

November 1, 2019