this post was submitted on 29 Nov 2024
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Oh yeah, how well is that going?
Self-regulation is a lie, you need an objective referee to ensure everyone is playing by the rules. Having a referee that can't punish anyone is as good as not having one at all
Self-regulation can work in cases where the incentives are set up just right, but when it works you have no real need to bring up regulation at all so whenever regulation is worth considering at all self-regulation has already failed pretty much by definition.