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Abolish every single regulation that exists.

Comment 2nd July 2010

Abolish every single regulation that exists. Here are just a few examples of the good things that abolishing regulations can do:

Abolish planning permission and state-controlled town planning

Town planning, as well as forcing businesses to move away from where they can best serve their customers, also raises the cost of housing. Redrow—a construction company—recently revealed that they spend more on planning permission than they do on bricks. Abolishing it might help us to create some housing that is actually affordable.

Abolishing the minimum wage

The majority of people do not have a problem with the minimum wage. However, I do. Raising the cost of labour is a burden on employers, many of whom are not big corporate enterprises "exploiting" poor people, but small businesses (the ones who all politicians claim to support). Introducing or increasing the minimum wage hurts people whose labour is worth less than what the minimum wage is. For an example, an employer wants to hire ten people at £2.50 an hour each; they cannot do that if there is a minimum wage of £5 an hour. Instead of hiring ten people, they will hire five. There is ample evidence to suggest that minimum wages hurt the poor. Youth unemployment is usually reported as higher than general unemployment. Why could this be? The answer is that young people have very few skills which justify a high wage. Because the law restricts young people from getting jobs at wages which justify their skills, they are priced out of the labour market. This is ethically wrong. If minimum wages destroy jobs, then so-called "living wages" are absolute destroyers of jobs. If you want unemployment to be low, abolish this regulation, the burdens of which fall on those who it is meant to help.

Abolishing anti-discrimination regulation

It sounds like such a good idea, doesn't it? Without it, blacks, Jews and the Irish wouldn't be allowed to enter any shop, because people are naturally racist and the state must use its force to stop this discrimination, right?

Wrong. Anti-discrimination laws are not necessary. Every time a business denies blacks, or Muslims, or any other minority group access to its services, it is only harming itself. Turning away customers who are willing to pay for their services means less money for the shopkeeper, or the baker, the butcher or greengrocer, or any businessman you can think of. This is called the free market's "racist fee". A racist shopkeeper who does not allow Muslims into his shop will lose out on the money those Muslims will over him.

Should we allow people the right to deny Muslims to their shops? Absolutely. Their business belongs to them and them only. They have the right to freedom of association – they must allow whomever they want (or don't want) onto (or off) their property. As I have mentioned before, there is a "racist fee" in the free market for those who discriminate. Bigots go bust.

The real racists are trade unions and governments. It was government that enforced segregation and propped up slavery. It was the trade unions who were passionately opposed to the Davis-Beacon Act of 1931, with president of the American Federation of Labour saying that "coloured labour is being sought to demoralize wage rates".

Why does this matter?

The free market works best when there are no restrictions placed on it.

We can have zero unemployment if we stop forcing businesses to pay a "minimum wage" and force them to pay for National Insurance, which is a Ponzi scheme that must be abolished at once. (I really do want you to read this article by Lew Rockwell, explaining the evils of government intervention in the labour market.)

We can see our economy flourish if corporation tax, capital gains tax and inheritance tax (among many other extremely burdensome taxes) are all abolished.

Remember: "the only "fair" is laissez-faire!"


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