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jerryking : regulations   9

Zucked by Roger McNamee — anti-social network
January 4, 2019 | Financial Times | Hannah Kuchler.

n Zucked, McNamee describes his evolution into one of the loudest voices calling for regulation of Facebook, after a lifetime as a “technology optimist” and a capitalist convinced markets could settle their own problems. The 62-year-old is part of the old guard of Silicon Valley, investing in companies including Electronic Arts, the video game company, and Palm, the maker of the early handheld devices. But he rebelled against the Valley’s code of silence, to become a key leader in a campaign against Facebook.

His book is the first narrative tale of Facebook’s unravelling over the past two years. McNamee tells the inside story of the campaign in which he allied with former Google design ethicist Tristan Harris and lobbied the politicians who eventually called Zuckerberg to testify in front of Congress in April 2018.

Without McNamee and Harris, would Washington have woken up to the severity of the social network’s problems — or believed they could do anything about it? Zucked lands just as the Democrats take over the House of Representatives, making US regulation more likely — although nowhere near inevitable.
books  book_review  Facebook  Mark_Zuckerberg  regulations  Roger_McNamee  Silicon_Valley 
february 2019 by jerryking
Don’t Confuse Capitalism With an Absence of Regulations - The Experts - WSJ
Nov 26, 2013 | WSJ | Kim Campbell.

Adam Smith did not recommend unregulated markets. If people insist on equating capitalism with an absence of rules and regulation, we run the risk of discrediting capitalism as the basis of an economy that can coexist with tackling the major issues of our time–i.e. climate change, political stability and upward mobility.
capitalism  regulations  Adam_Smith  leadership 
november 2013 by jerryking
Amid Salmonella Case, Food Industry Seems Set to Back Greater Regulation - NYTimes.com
July 31, 2008
Amid Salmonella Case, Food Industry Seems Set to Back Greater Regulation
By BINA VENKATARAMAN
traceability  food  food_crops  food_safety  regulations 
november 2012 by jerryking
Don't Just Do Something! - WSJ.com
January 25, 2008

Markets are a discovery process, with firms and investors learning as they try new ideas and react to changed conditions. What markets need is a stable regulatory environment, in which every dip in the market doesn't produce a new set of rules.
banking  banks  business_models  David_Wessel  discoveries  letters_to_the_editor  rules_of_the_game  markets  market_corrections  regulations 
june 2012 by jerryking
Making Shareholders Liable for Big Banks - Economic View - NYTimes.com
By TYLER COWEN
Published: February 11, 2012
....There is a better alternative: expanding the liability for major financial institutions. If a shareholder invests a dollar in a big bank, why not make that shareholder liable for the first $1.50 — or more — of losses as insolvency approaches? In essence, we would be making the shareholders liable for the costs that bank failures impose on society, and making the banks sort out the right mixes of activities and risks. Eugene N. White, an economics professor at Rutgers University, supported a related proposal in a recent paper, “Rethinking the Regulation of Banking: Choices or Incentives?”

This proposal would shrink the financial sector, while avoiding excess regulatory micromanagement of bank activities. But it could still be combined with other regulations, like limits on leverage, if deemed appropriate or necessary.

Unlike the “big is bad” view, this proposal would penalize failing banks rather than safe, successful ones that happen to be large. That’s also more in accord with the American ethos of winning at business. ....
Expanded liability for bank shareholders might satisfy the Occupy Wall Street movement, and could be sold as a market-oriented, not regulatory solution; it’s probably what markets would insist upon if there were no central bank and no F.D.I.C. As recently as the 1980s, the partnership structure, another alternative to limited liability, was common among investment banks — and that hardly seemed a crippling drawback at the time.

We need to resist vengeful or “feel good” options for financial reform and embrace those that will really work.
banking  regulations  risk-management  Tyler_Cowen  too_big_to_fail  Occupy_Wall_Street  insolvency 
february 2012 by jerryking
The Protocol Society
Dec. 22, 2009 | NYT | By DAVID BROOKS. A protocol economy has
very different properties than a physical stuff economy. The success
of an economy depends on its ability to invent and embrace new
protocols, its' “adaptive efficiency,” -- how quickly a society can be
infected by new ideas. Protocols are intangible, so the traits needed to
invent and absorb them are intangible, too. First, a nation has to have
a good operating system: laws, regulations and property rights. Second,
a nation has to have a good economic culture: attitudes toward
uncertainty, the willingness to exert leadership, the willingness to
follow orders. A strong economy needs daring consumers (China lacks
this) and young researchers with money to play with (N.I.H. grants used
to go to 35-year-olds but now they go to 50-year-olds). See “From
Poverty to Prosperity,” by Arnold Kling and Nick Schulz and Richard
Ogle’s 2007 book, “Smart World,” When the economy is about ideas,
economics comes to resemble psychology.
David_Brooks  innovation  books  culture  adaptability  ideaviruses  risk-taking  R&D  N.I.H.  property_rights  regulations  rule_of_law  institutional_integrity  services  digital_economy  rules-based  intellectual_property  demand-driven  psychology  customer-driven  intangibles  behavioural_economics  protocols  poverty  prosperity 
december 2009 by jerryking
Canada, a nation given to fanciful flights from reality - The Globe and Mail
May. 25, 2009 | Globe and Mail | Daniel F. Muzyka. Lays out
his "realities" for dealing with Canada's political-economic challenges.
(1) Business creates wealth, government redistributes it. (2) Markets are a powerful force. (3) Capital moves. (4) Risk has two sides. humans have all kinds of decision biases around risk. We need to recognize that there may be a "risk/return" relationship in that the average expectation is to realize a certain return given a level of riskiness in our investments. However, there are no guarantees. (5) Structural problems are just
that. If we don't deal with problems because they just aren't painful enough in better times, they will come back to haunt us in the next downturn - only worse. (6) Externalities come back to haunt. (7) Subsidies are bad and
become addictive. (8) Bailouts are no free lunch. (9) It is what you negotiate and what you are worth. Add enough value to justify your wage rates (10) Value added and productivity are the keys to success....Create more value than others and do it more productively...govts. that provide social, health and educational services should be asking questions about how productive their service delivery is, not just how much they are investing in it. (11) Innovate or wither. Propping up what exists - or worse, what existed - for the sake of maintaining the status quo, especially with subsidies, is a road to defeat....focus on research and innovation,
bailouts  Canada  Canadians  capital_flows  delusions  Daniel_Muzyka  externalities  hard_truths  innovation  interconnections  negotiations  productivity  realities  regulations  risks  rules_of_the_game  self-worth  subsidies  value_added  wishful_thinking 
may 2009 by jerryking

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