“Over-regulation!” One of the concerns expressed during the recent PWC 18th CEO survey 2015, and which is not a new concern. And what is that? Simply put, the formulation of legislation to control the manner in which market players behave in terms which assume that the said players will act immaturely and avariciously regardless of their declared Mission, Vision and Values (MVV). Of course, it cuts both ways. Legislation is also a powerfully malicious tool in the hands of those aspiring not to serve but be served. Then, there is always the Jim Collins saying that “The purpose of bureaucracy is to compensate for incompetence and lack of discipline.”
There is always a tendency to overreact. A few giant miscreants indulge in feces-flinging, sully the waters, and suddenly everyone is subjected to filling out declaration forms stating that they will not similarly foul the waters they happen to just want to swim in. How many of those forms are actually read and information compiled for some possible usefulness? None! They exist for the sole purpose of facilitating the accusing finger. Guilty till proved innocent. Some executives in high places give full rein to their own greed, financial empires topple, and the rest of us get saddled with monstrosities like Sarbanes-Oxley. There are many more, extant and still to come.
Free enterprise will only be free if it is run by men who are free. Free from self-seeking greed and avarice. Free from opulence and self-importance. Free to serve others for the greater good. Until free enterprise becomes truly free, over-regulation is here to remind free enterprise that she is not free. Free enterprise is not freedom from over-regulation, or freedom from any regulation. Free enterprise is when men are free to exchange value for value. Where one’s word is law. Where those who seek to exploit others for selfish reasons are beaten down and thrown out of the system. Where the rule of law and mutual honour prevail.
Until that happens, over-regulation will continue to exist in her many and varied forms. What are you doing to bring down over-regulation so that enterprise may be set free?