A Quote by John Bruton
But our system of regulation must keep up with this. If it fails to keep up, it will hold back economic expansion. We need financial market regulation that works at national and European level.
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We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.
Inappropriate macro economic policies in some economies, characterised by [a] low savings rate and high consumption [and] failure of financial supervision and regulation to keep up with innovation which allowed financial derivatives to spread.
With less regulation, I think you would see growth come back. Of course, there are situations where you need regulation. Antitrust regulation, for example, is a good idea because you want competition. But beyond that, it gets very difficult.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
Our objective in regulation should be to put in place tough enough regulation and capital and liquidity standards that we level the playing field and make it costly.
What we have to find is the right level of regulation of our financial system so that it has the incentive to invest in things, but at the same time, it is sufficiently regulated so it can't get in the kind of trouble that we have seen in the past and we have seen recently.
People feel that the EU is heading in a direction that they never signed up to. They resent the interference in our national life by what they see as unnecessary rules and regulation. And they wonder what the point of it all is. Put simply, many ask 'why can't we just have what we voted to join - a common market?'
Even if someone wanted a purely free-market, competitive media system, it would require extensive government regulation to set up those markets. All our largest media companies are based on the grant of explicit government monopoly privileges and licenses, or franchises, or subsidies. The government didn't come in after the system was in place, it built the system in the first place.
In the wake of the 2008 recession, Congress and the Obama Administration rightly focused financial regulation on protecting the nation's financial system from itself.
Road testing the effects of regulation on European business must become second nature to the European Union.
But effective regulation at the European Union level can make a massive contribution to achieving our shared goals of improving competitiveness, jobs and growth.
We have a massive system to regulate creativity. A massive system of lawyers regulating creativity as copyright law has expanded in unrecognizable forms, going from a regulation of publishing to a regulation of copying.
There is certainly a role for regulation, but regulation should always take into account the impact that it has on markets, a balance that must be constantly weighed.
I often think that all the difficulties we encounter only give us the more strength if we keep hold of our work, and we must not now give up while in the prime of life. It is best to keep trying, and by and by the opportunity will come. If we have given up, then we shall not be ready for it when it does come.
Growing up is difficult. Strangely, even when we have stopped growing physically, we seem to have to keep on growing emotionally, which involves both expansion and shrinkage, as some parts of us develop and others must be allowed to disappear...Rigidity never works; we end up being the wrong size for our world.
A company is a multidimensional system capable of growth, expansion, and self-regulation. It is, therefore, not a thing but a set of interacting forces. Any theory of organization must be capable of reflecting a company's many facets, its dynamism, and its basic orderliness. When company organization is reviewed, or when reorganizing a company, it must be loked upon as a whole, as a total system.
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