A Quote by Noam Chomsky
An effective regulatory system today would be one guided by a few basic premises that can be applied flexibly but also universally.
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It seems that I have always been ahead of my time. I had to wait nineteen years before Niagara was harnessed by my system, fifteen years before the basic inventions for wireless which I gave to the world in 1893 were applied universally.
You do not need to do many different exercises to get strong - you need to get strong on a very few important exercises, movements that train the whole body as a system, not as a collection of separate body parts. The problem with the programs advocated by all the national exercise organizations is that they fail to recognize this basic principle: the body best adapts as a whole organism to stress applied to the whole organism. The more stress that can be applied to as much of the body at one time as possible, the more effective and productive the adaptation will be.
History has shown that there are very few mechanisms as effective at maintaining the status quo as a set of institutionalized regulations. Once set in regulatory concrete, reconsideration of the basic underlying assumptions is very difficult. While it will be an uphill fight to re-examine the basic underlying assumptions of any law or administrative rule, it is clearly not impossible. It will just take longer than if not so well institutionalized.
That attitude does not exist so much today, but in those days there was a very sharp distinction between basic physics and applied physics. Columbia did not deal with applied physics.
Very few people can communicate with one another. The only language that's not subject to interpretation is mathematics, chemistry, basic science, engineering principles, and applied agriculture. But other than that, many systems today are subject to interpretation.
We had lead emitted in gasoline and in paint, painting generations of housing for an entire century, practically, before it was regulated. That's what I'm talking about, is that we have a regulatory system that is biased to protect profit and not to protect people. We need a much more precautionary and proactive regulatory system that is not influenced by the revolving door.
The oldest habit in the world for resisting change is to complain that unless the remedy to the disease should be universally applied it should not be applied at all. But you must start somewhere.
Background checks applied universally and nationally would take millions of illegal guns off the streets of our cities.
The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.
Basic would never have surfaced because there was always a language better than Basic for that purpose. That language was Joss, which predated Basic and was beautiful. But Basic happened to be on a GE timesharing system that was done by Dartmouth, and when GE decided to franchise that, it started spreading Basic around just because it was there, not because it had any intrinsic merits whatsoever.
If you sense a deep human need, then you go back to all the basic science. If there is some missing, then you try to do more basic science and applied science until you get it. So you make the system to fulfill that need, rather than starting the other way around, where you have something and wonder what to do with it.
Newton, for instance, attempted to comprehend the diversities of the universe with a single system of mathematical laws, the objectivity, sobriety and logic of Palladian architecture presented an aesthetic formula which, while accepting variations and adjustments according to climate and other needs, could be applied universally.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
Today, we are announcing that agencies are releasing their final regulatory reform plans, including hundreds of initiatives that will reduce costs, simplify the system, and eliminate redundancy and inconsistency.
Surely it isn't illegal here to complain about young people these days? How cruel. I had thought it a basic part of human nature, one of the few universally practiced human customs.
The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank.
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