Regulating Businesses

Vision 2030 / 2050 envisions that Provo’s central planners will continue to run Provo’s only airport (see V2050 6.4), rather than privatize it.

It proposes to not only continue regulating business operations (see V2050 6.1.1), but also to selectively subsidize politically-favored businesses (see V2030 9.1.2) either to relocate to Provo or to expand their existing operations here (see V2030 9.3.2; V2050 6.3.2). This includes subsidizing politically-favored startups (see V2030 5.4.2; V2050 6.2.4 & 6.8.4), which is task best left to private investors.  It’s wrong for politicians to take our money to invest in whichever businesses they (not necessarily we) favor, so that our economy will develop exactly as they (not necessarily we) prefer.

They also intend to actively encourage local business leaders to serve on relevant city boards and commissions (see V2030 9.8; V2050 6.1.2), which can lead to a “revolving door” of personnel between businesses and regulatory agencies.  Although this practice may improve regulatory competence, it also facilitates illicit collusion (also known as “regulatory capture”) between regulators and regulatees that too-often benefits each other’s special interests rather than the general welfare.

According to Vision 2050, Provo’s business regulation will include subsidies for non-polluting businesses (see V2050 4.8), but pollution should ideally not be regulated but instead prosecuted as a crime.

(For more about Envisioning Statism, please see both Running Monopolies and Censoring Communication.)


References:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s