For the umpteenth time, its REGULATION, stupid!

'The entire gamut of intellectual discussion has been focused on a top down approach to the given issue. The issue is to have a competent authority at the top and hope he runs the show. While the top end of the spectrum is required, what one needs to realize is that the focus should be equally on the bottoms up approach. The focus should be equally on how we can break open the issues at the bottom end of the entire chain, at the fundamental and mundane level. People need to be empowered with education and the audacity to confront the bribe giver head on. At the bottom end of the chain, the systems need to be refined at the point of delivery. Why should a cop bribe? Because he is not paid enough and he is not punished for violating his code of conduct. Why is my friend forced to give a bribe to the cop? That is because we neither have the patience to not break the law nor do we have the means to go through the trouble. This is where the system needs to be equally more refined so as to address the weaknesses in the system in terms of parity of pay for the cop and introspection within us not to bribe the cop. Once this approach of addressing the bottom end equally as much as the top is adopted, this would ensure that on a pragmatic level, the society as a whole refines itself to move forward.'

If there's dumb, what you read above is as close as it gets. What's recommended above stems from zero understanding of both human behaviour and free market economics.

Contrast what Sriram recommends with that of Joh Stossel,

'We grow up learning that some things are just bad: child labor, ticket scalping, price gouging, kidney selling, blackmail, etc. But maybe they're not. What I love about economics is that it can show that what seems harmful is actually good for society. It illuminates what common sense overlooks...

Most people call child labor an unmitigated evil. David Boaz of the Cato Institute and Nick Gillespie of say that's wrong.

"If we say that the United States should abolish child labor in very poor countries," Boaz said, "then what will happen to these children? ... They're not suddenly going to go to the country day school. ... They may be out selling their bodies on the street. That is not an improvement over working in a t-shirt factory."

In fact, studies show that in at least one country where child labor was suddenly banned, prostitution increased. Good economics teaches that as poor countries get richer and freer, capital investment raises the productivity of labor and child labor diminishes. There's no shortcut through government prohibition -- unless you like starvation and child prostitution.'

The answer to corruption isn't a sermon on introspection and a call to down greed. The fact is greed's GOOD! The pursuit of self interst is best thing that can happen to a society. The real answer to corruption isn't greater regulation and more regulators. On the contrary its zero regulation that downs corruption.

And for God's sake listen to the likes of Milton Friedman to get a hang of what I am saying, and take the time to watch video above.

Maybe, just maybe, you'll wisen up.


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