Igor Bubelov About Blog Photos

Regulation

December 26, 2020

I usually have a libertarian stance on most of the questions but regulation isn’t one of them. I believe that markets don’t really need interventions in the long run but certain interventions may speed up our progress and prevent some serious issues. In other words, although government interventions do not drive the progress, they can speed it up. That’s why I’m very pleased with the recent anti-thrust activity of the US regulators. There is no doubt that big tech companies are abusing their power and hurt the consumers. They must be stopped. We need to punish them for anticompetitive behaviour, and we need stronger privacy protections.

The only purpose of business is to sell us stuff that makes our lives better. Competition makes sure that consumers get good stuff at reasonable prices, and the entrepreneurs get their well-deserved rewards. Without competition, there is no reason for entrepreneurs to create good stuff and there is no limit on the rewards, that’s why we should not allow companies to destroy competition.