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IPFS News Link • Government

Retroactive Regulation

• by Eric

You have something to sell and someone wishes to buy it. But someone else – from the government – says you may not sell it unless he (more likely, she) says you may.

The presumption, of course, is that if buying and selling occurred without regulating then sellers would harm buyers, a dismal view of human interaction and also an empty-headed one in that it presumes regulators are immune from the foibles and failings attributed to those whom they "regulate." It also fails to incorporate a critical fact about regulation as juxtaposed with free exchange: The element of force. It is absent from free exchange. You are free to buy what a seller offers. Or not. But force is the fundamental underlying tenet of "regulation." If you do not submit to being "regulated" – even if you have harmed none – you are subject to harm.