My latest column in Forbes is here, looking at the issue of EU hedge fund regulation.
As I argue:
Like it or not international finance needs rules and they need to be consistent. Creating competitive advantage by manipulating the rules does not mean there are winners or losers as a consequence — it means there is no game and only losers. Rules are not anti-competitive. Even Friedman recognized that they make free competition possible.
Brussels is saying that real people--the people of Greece and maybe the E.U. itself--are losing out right now as a result of lax financial regulations largely set by London and Washington. The two financial capitals are signalling that they don't care, but they should. Unless regulations are levelled upwards so that international finance is a game all can partake in to mutual benefit, there would be no game at all--and that would be a protectionist disaster.
One that the so called free marketeers seem to desire.
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Hello Richard. I admire the work U are doing in exposing what Finance and other Capitalist Corporations and politicians are up to.
But to me this is still BOURGEOIS ECONOMICS !! – “..SO THAT INTERNATIONAL FINANCE IS A GAME ALL CAN PARTAKE IN TO MUTUAL BENEFIT” : I suggest U read : Lenin :
“IMPERIALISM : THE HIGHEST STAGE OF CAPITALISM” : (www.marxists.org/
Lenin:Selected Works) :
Imperialism isn’t THE BEAST You want it to be !
I think U’r Good at EXPOSING What Imperialists are Up-to But :
“..there would be no game at all – and that would be a PROTECTIONIST DISASTER “.
IMPERIALISM IS A DISASTER!(It has produced 2 World Wars – and looks like it’s heading for Another! And Continuous Wars for Raw Materials and Markets ) – BUT WE KNOW THERE IS ANOTHER “GAME” – IT IS CALLED WORLD SOCIALISM(AND COMMUNISM) – CO-OPERATIVE/NOT COMPETITIVE !!
Looking forward to U’r reply : Cheers Merlin.
“Brussels is saying that real people–the people of Greece and maybe the E.U. itself–are losing out right now as a result of lax financial regulations largely set by London and Washington. The two financial capitals are signaling that they don’t care, but they should. Unless regulations are leveled upwards so that international finance is a game all can partake in to mutual benefit, there would be no game at all–and that would be a protectionist disaster.”
@Merlin Ap Ceridwen
You can suggest
But I can ignore
Sorry – social democrats don’t do Lenin
Richard