One underexplored aspect of the global economy in recent decades has been an explosion in the creation, issuing and enforcement of regulations.
But is this emerging regulatory state necessary in the modern age, both to protect consumers and adapt to the changing needs of contemporary trade - or is this weight of regulation excessive and harmful to competition? Some even argue that such rules - often issued by unelected officials and removed from the electorate - represent a threat to democracy itself?
Britain’s withdrawal from the EU has revived interest in these issues, since the UK may soon be extricating itself from a weight of historic regulatory rules dating back to the Maastricht Treaty. Yet increasing regulation is actually part of a global trend, with the US, China, and to a lesser extent, Japan also defining the trade landscape through their different regimes. Today, the IEA's Head of Education Dr Steve Davies makes the case that the regulatory state, and its push for harmonisation, is damaging competition. Back in 1970s Europe, he argues, you could determine good regulations from the bad by monitoring each country’s individual rules and regulations and learning from best practice.
On our podcast today, Steve and the IEA’s Associate Director Kate Andrews discuss these topics and more. If you like what you hear, be sure to subscribe to our podcast channel, IEA Conversations.
Does Regulation Make Banks Riskier? | IEA Podcast
Are Doctors Underpaid? | IEA Podcast
The Swift Half with Snowdon ft. Jacob Grier
Why is Britain’s Growth Stagnant? | IEA Podcast
The Swift Half with Snowdon ft. Peter Hitchens
What’s Wrong With The Serious Fraud Office? | IEA Podcast
Should we fear AI? | IEA Podcast
What Can We Learn From Adam Smith? | IEA Podcast
Is Our Data Under Threat? | IEA Podcast
How Can We Stop Young People Flocking To Socialism? | IEA Podcast
Is US Oil Propping Up Venezuelan Socialism? | IEA Podcast
What is the Northern Ireland Protocol? | IEA Podcast
China, the Unstoppable Tech Giant?
Can Europe Tackle The Cost Of Living Crisis? | IEA Podcast
What’s wrong with net neutrality? | IEA Podcast
Can Free Markets Make A Comeback? | IEA Podcast
Will the Edinburgh Reforms Unleash British Finance? | IEA Podcast
Is China Dominating Africa? | IEA Podcast
What Next For UK International Trade? | IEA Podcast
Swift Half with Snowdon ft. David Zaruk
Create your
podcast in
minutes
It is Free