Regulatory frameworks should promote innovation and competition from "summary" of The Economics of Regulation: Principles and Institutions: Economic principles by Alfred Edward Kahn
The goal of regulatory frameworks is to create an environment that fosters innovation and competition. In the realm of economics, this means allowing for new ideas and technologies to flourish while also ensuring that there is healthy competition among firms. Without innovation, an economy can stagnate and fail to keep up with the changing needs of society. Regulatory frameworks should therefore be designed in a way that encourages firms to invest in research and development, leading to the creation of new products and services that can benefit consumers. At the same time, competition is essential for ensuring that firms are incentivized to operate efficiently and provide high-quality goods and services at competitive prices. By promoting competitio...
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