We don't have a regulatory system able to ensure that that production is safe.

And when it gets decoupled, we might find that democracy, the multitude of voices, actually impedes capitalism because a state that does not have any pretense of limited government can very quickly mandate a regulatory framework for drones, for electric cars, for self-driving cars, for any new innovation where they feel that they can leapfrog Western societies.

We had a financial regulatory regime based on the assumptions that traders were rational creatures who wouldn't do anything stupid.

Now, as I was training in clinical medicine and hematology and oncology and stem-cell transplantation, what we had instead, cascading through the regulatory network at the FDA, were these substances: arsenic, thalidomide, and this chemical derivative of nitrogen mustard gas.

It turns out that driving, with its associated design implementation and regulatory hurdles, is actually a harder problem to solve than flying.

This means establishing a better balance between EU and national responsibilities; fully respecting the subsidiarity principle (according to which the EU should act only if a problem cannot be resolved at the local, regional, or national levels); improving the efficiency of spending and channeling it toward growth and job creation; reducing bureaucracy through better legislation; easing regulatory and administrative burdens; and enhancing transparency in every aspect of EU decision-making – from the Commission to the European Parliament.

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