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One real-world aspect of the Internet making regulation difficult is its low cost.
The case of Britain's Charity Commission highlights the difficulty in making regulation work.
Unlike the "private" world of magazine and television advertising, outdoor advertising is displayed throughout public space, thus making regulation of the medium a pertinent public policy concern.
My objection is that many of those who insist on cost-benefit analysis have no interest whatsoever in making regulation more focused and rational.
law prohibits companies from doing business with agents that charge recruitment fees, enforcement is rare, in part because of a worker's circuitous chain of employment from contractor to subcontractor (and, sometimes, sub-subcontractor), making regulation difficult.
That no doubt will lead some on Wall Street to say that the markets are warning against making regulation too harsh, but the wild gyrations also serve as a reminder that the efficient markets hypothesis is not a very good model of what actually happens.
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It is generally said to extend to making regulations promotive of domestic order, morals, health, and safety.
Still, Brown added, the administrator recognizes the greater challenges that come with making regulations rather than striking them down.
We need to be very careful about regulations that impinge on such activities, but we should not shy away from making regulations once we have clarity.
Making regulations too strict may kill Internet credit service companies.
Making regulations too loose may affect the individual benefits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com