I developed the next matrix to information the company’s coverage choices as a authorities regulator. We labored by means of every of those questions when offered with a real downside:
1. Is the personal market fixing this downside by itself?
2. If not, are there state-level insurance policies that stand in the way in which of a personal market resolution?
3. If not, are there federal-level insurance policies that stand in the way in which of a personal market resolution?
4. If not, what kind of authorities motion will greatest promote a personal market resolution?
After working by means of this matrix, our company typically discovered the largest barrier to fixing any given downside was the federal government itself — whether or not or not it’s extreme rules, bureaucratic inefficiency or one thing else.
Correcting authorities limitations must be job quantity one among regulators. Repealing pointless rules or creating higher processes to manage packages extra effectively can result in unbelievable constructive impacts on individuals’s lives, and infrequently prices nothing however a little bit political braveness and efficient management.
The COVID pandemic has proven us how effectively this mindset can work. Whereas the effectiveness of trillion-dollar stimulus has been hotly debated, a number of the most objectively profitable actions taken to answer the pandemic have been when governments waived rules.
— to mtstandard.com