Bureaucracy and regulation that help corporate greed are bad, sure, but bureaucracy and regulations that help the consumer are good things for progress.
For example, the usa homeownership rate was in the 40% range until programs post ww2 boosted it up into the 60% range. Great Britain was even worse. Some economist somewhere decided homeownership was good, and now usa/canada/aus/gb all put programs in place that boosted their numbers to the 60-70 range we see today.
Compared to china’s 90% it is not as high, but there were some costs to that as well.
Bureaucracy and regulation that help corporate greed are bad, sure, but bureaucracy and regulations that help the consumer are good things for progress.
For example, the usa homeownership rate was in the 40% range until programs post ww2 boosted it up into the 60% range. Great Britain was even worse. Some economist somewhere decided homeownership was good, and now usa/canada/aus/gb all put programs in place that boosted their numbers to the 60-70 range we see today.
Compared to china’s 90% it is not as high, but there were some costs to that as well.