The State is us.
I would agree with that.
We, collectively have to take responsibility for our collective actions.
We need to limit the power of government. It is the only solution, as they run around the place like a bunch of startled monkeys, not knowing what to do. Does anyone have confidence that they can turn the country around?
Well that is democracy for you.
Reality is that the Govt needs powers to run the country. If you limit those powers, who do you hand it over to instead?.
It needs certain powers but not unlimited power. Every poll I saw suggested that the public would not have voted for a bank bailout or for NAMA. Irrespective of whether these were good or bad decisions, government used its unlimited power to just go ahead anyway.
In answer to your question though, the power should remain in the hands of individuals.
Light touch? Or incompetent? After all, we had a central bank, Department of Finanace, and a regulator with a big staff (people, not a large rod) - and what were they all doing at the taxpayers expense?Whilst I agree in principle, look at the mess light touch regulation got us into with the banks, the Catholic church, premium rate calls from the Dail etc etc.
look at the mess light touch regulation got us into
I think it is one of the biggest myths to say that there was light touch regulation or deregulation. The financial industry is one of the most heavily regulated industries in the world. It is so heavily regulated that it is pretty much impossible to set up small bank as a new business. If there actually was significant deregulation then all we would have to do is reintroduce those old regulation and all will be fine again. If there was light touch regulation then why would we trust the same organisation to suddenly be able to come up with heavy touch regulation?Whilst I agree in principle, look at the mess light touch regulation got us into with the banks, the Catholic church, premium rate calls from the Dail etc etc.
As for NAMA, I don't think the public actually understood the issue well enough to make an informed decision and the Govt didn't provide the information.
Very good point Sunny, but that only reinforces the need to restrict government actions.The majority of people would probably vote for huge tax cuts and would probably not vote for any austerity budget despite us not really having any choice. Governing sometimes means making unpopular decisions. That's not the same as abusing your power.
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