• Regulating surfing lessons Regulating surfing lessons In a classic case of the profitable sleaze economist call rent seeking, existing enterprises with the help of dull, imperious bureaucrats get government to limit entry into a lucrative market- in this case
• Regulating surfing lessons
Regulating surfing lessons
In a classic case of the profitable sleaze economist call rent seeking, existing enterprises with the help of dull, imperious bureaucrats get government to limit entry into a lucrative market- in this case that of providing surfing lessons. By imposing restrictions on and financially burdening new entrants to an existing market, government makes a mockery of its justification for regulating an industry; that is, they protect existing businesses and stifle rather than promote competition.
The losers to this perverse scheme are those enterprising individuals who have the skill and experience to give surf instructions and, of course, those wishing to take lessons who will pay higher prices. More broadly, we are all losers as government continues to extend its creepy power over virtually every corner of our lives, systematically reducing the scope of our freedom to make our own choices.
