Published in Forbes on June 16. 2009 by Richard A. Epstein
It’s hardly news to anyone that deregulation has become a dirty word in the Obama administration. All of the many ills of recent times in the industrial and financial sectors are chalked up to the hardy duo of misaligned market incentives and corporate greed, which cry out for increased government oversight–never mind how. The usual libertarian presumption that state interference is an evil until shown to be a good sits unmourned in the regulatory dustbin. In today’s heady environment the only question worth asking is which ill-suited regulator should take the lead.