Whenever people discuss regulation, whether for or against, it’s always treated as basically one type of thing. Opponents might say, “regulation is bad for business,” or, “we need to cut red tape,” while advocates might argue, “regulation makes us safer,” or, less positively, “regulation is a necessary evil.”
Occasionally, someone will distinguish between good and bad regulation, but it’s still talked about as one thing, with one purpose; the debate is whether it achieves that purpose to a better or worse extent.
Visiting India helped crystallise in my mind that there are two very different things, both called “regulation”. They have different aims, and different effects on business. We shouldn’t confuse one for the other. We should also be aware that it’s a deliberate policy of business lobby groups to try to make us do just that.