In Laura Moffatt’s last speech in Parliament she mentioned the many benefits of intervention, which turned out to be a very timely contribution because alst week also saw the publication of a pamphlet called The Red Tape Delusion, which explains the arguments for greater intervention in more detail.I won’t pretend to have read all 60 pages of it, but I have skimmed it and think that it makes some good points while it argues that fairer rights for workers are compatible with economic success as well as bringing far better social outcomes.
In the foreward, Berndan Barber says that:
Regulation can be an essential means to achieve both economic success and greater equality. Of course that doesnâ€™t mean that every regulation is good. Making someone with a red flag walk in front of every car did not help the motor industry develop. But it does mean that the mirror image argument, that all regulation is bad, belongs in that old clichÃ©, the dustbin of history. Regulation can boost the economy, make society fairer and contribute to a better life for all.
Worth looking at if you have the time, or have trouble sleeping.