Bitcoin Songsheet: The State’s Abuse Of Business Is Inherited By Consumers Today

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Big business is an extension of the state.

Governments control businesses and their customers, and their weapon of choice is legislation. The resulting regulations are so broad and arbitrary that the government can harass businesses until they comply like a mafia protection racket. And given the abundant pettiness of bureaucrats, the rules can be as pointless as a reality TV show.

Rather than deal with the harassment, most companies have entire departments that focus on regulatory compliance. The compliance costs are not trivial, but it’s a lot better than not having a business at all, so businesses pay them. These are essentially departments to keep bureaucrats happy. The mob at least has the courtesy to be straightforward about what it wants, regulators are often self-contradictory and compliance is more art than science.