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8/13/2009

No need for corporate governance

With so many abuses and frauds being exposed in our industries, I must say that it is a daunting task for the administrators to regulate and ensure that the consumers are not cheated, that there is fair play and ethical business practices. The job is so difficult and we should pity them for not being able to prevent all the funny things that are happening. What we should go for is a free market system, when anything goes. No need for governance. Every consumer be made aware, let caveat emptor be our governing principle in doing businesses. In a free market system, everyone will get wiser and learn to protect themselves and there no need to have huge organisations with thousands of people employed trying to administer and regulate when it is near impossible to do so. Make our economy really free, free from any encumbrance, free from regulations and interference. Let the law of jungle rules. Would that be nice, be more efficient? And no one needs to be blamed, no one needs to find excuses when things go wrong, no need to justify for any breaches or failures. Yes, caveat emptor is the way to go. And no need to kpkb.

2 comments:

Anonymous said...

In SIN(moral/country)), ethical or not, moral or not are not the Issue.

THE ISSUE IS IF THE ACTIONS ARE LEGAL AND LAWFUL, THAT'S ALL THEY MATTER !

patriot

Anonymous said...

My apology !

'THAT'S ALL THEY MATTER' should read as 'THAT'S ALL THAT MATTERS'.

patriot