Talk:Tools for a New Economy: Proposals for a Financial Regulatory System
"If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself. A dependence on the people is, no doubt, the primary control on the government; but experience has taught mankind the necessity of auxiliary precautions."
"It is of great importance in a republic not only to guard the society against the oppression of its rulers, but to guard one part of the society against the injustice of the other part." ~ James Madison
Regulation can be used to control markets till the end of time but...if capital, with the constant chorus of ever and greater profits, is allowed to destroy it's markets through wage repression even to the point of wage slavery, there will be no regulation that is worth a hill of beans. James Horn