Friday, February 12, 2010

Government regulation

Some people expressed surprise that I advocate more regulation. They point to examples of oppressive and bad regulations.

Society need to be regulated. The poor and the weak have to be protected against abuse and exploitation. This has to be achieved through law and regulation. Regulation should not and need not be intrusive. They do not need to impinge on personal freedom. So, there has to be a proper balance.

In a democratic and free society, the citizens will help to determine where the line should be drawn between regulation and freedom. So, we need a democratic and accountable authority. I am giving some brief thoughts here, and will develop this idea more more in subsequent postings.

Tan Kin Lian
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2 comments:

Anonymous said...

Eg of need to regulate is financial products for the man in the street.
It cannot be left to free play where the unsavyy is at a disadvantaged and will fall prey to charlatans. This is has been happening in past decades in the insurance industry.
In the recent years many who depended on the so called saving of their policies were shocked that they were short changed, screwed up by their trusted insurance agents. Unless the industry is more stringently regulated this time it will be a debacle. MAS MUST regulate the salesmen, the products and the manufacturers otherwise the consumers will receive more mauling in this tiger year.

February 12, 2010 12:59 PM
R,Stephen said...

Regulation is always needed in every field, it is most needed especially in the financial field.
Where there is no regulation there will be chaos.
Everybody should have freedom but at the same time, the freedom is to be regulated!

February 13, 2010 2:50 AM

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