Talking Regulation, Post-Economic Meltdown
Alan Greenspan announced it and polls show it too: There's been a sea change in attitudes about regulation lately -- across the political spectrum. Tragically, it's taken staggering losses in our retirement savings, jobs, and homes, and a crisis of financial security on a global scale to change minds. But, today, as our economy suffers the consequences of deregulation, policymakers can -- and must -- boldly and confidently reclaim responsible regulation as friend, not foe.
The gist: Alan Greenspan announced it and polls show it too: There's been a sea change in attitudes about regulation lately -- across the political spectrum.
Tragically, it's taken staggering losses in our retirement savings, jobs, and homes, and a crisis of financial security on a global scale to change minds.
But, today, as our economy suffers the consequences of deregulation, policymakers can -- and must -- boldly and confidently reclaim responsible regulation as friend, not foe.
How can we talk about regulation, post-meltdown?
Talking Points for Policymakers:
-
Protections for our families and property:
Together, we shape the "common-sense rules of the road" that keep us safe and ensure fair play. Regulations balance healthy competition with responsible standards.
-
Lessons from the meltdown:
Today, more than ever, we see that stability is crucial -- and it's tied to oversight and responsible regulations. We can set standards to steer clear of boom-and-bust cycles and big crises -- whether it's the financial system, volatile gas prices, or a natural disaster like Hurricane Katrina.
-
No more gambling the future:
A baseball game with no rules and no umpire would quickly fall apart. We insist on standards for our food and water and for our kids' toys. Why would we leave our retirement savings or our energy future to an economy with no rules?
Further reading:
-
Who Said it Best?
Who is talking about responsible regulation and common-sense public standards in a smart way?
Los Angeles Times / Bloomberg, October 10 - 13, 2008
A new Los Angeles Times / Bloomberg national poll shows that nearly three-quarters of respondents think the lack of regulation was partly responsible for the current financial and housing crises. The need for stronger regulation of financial markets was cited most as the top issue for the presidential candidates. And nearly half of those surveyed now think there is too little regulation of business. Read more>>
Demos: Network for Ideas and Action
Demos research into how Americans think about government shows that many see government and their relationship to in in narrow and distorted ways. In particular, Americans' views of government are missing two key ingredients: a concrete understanding of what it is and what it does, and a ready sense of the mission of government. Extensive research yields important indications about the nature of the re-framing that is needed to change the national conversation. Read more>>
Greg Anrig, The Century Foundation, October 29, 2008
"The ongoing crisis in the financial and housing markets is a direct outgrowth of conscious decisions against regulating Wall Street contracts known as derivatives and against halting predatory lending practices that extended mortgages to home buyers who lacked sufficient resources to repay the loans." But there are steps to restoring confidence in government, while recasting the role of regulations in a positive light. Read more>>
Alice M. Rivlin, Metropolitan Policy Program, Economic Studies, The Brookings Institution, October 21, 2008
"Market capitalism is a dangerous tool. Like a machine gun or chainsaw or a nuclear reactor, it has to be inspected frequently to see that it is working properly and used with caution according to carefully thought out rules.The essence of market capitalism is that individual incentives for economic gain (sometimes known as greed) can be harnessed to maximize economic growth; channel capital into its most productive uses; and even reduce the risks inherent in economic activity. Yet there are plenty of clear examples of unfettered gain-seeking leading to disastrous collective results -- greenhouse gas emissions, for example." Read more>>
Find out about Sightline's Strategic Communication program:
- About Sightline Flashcards
- Sightline's Flashcard Archive
- Our strategic communication reading list
- Our strategic communication philosophy: About values-based communication
Please send feedback, tips, and your own case studies to Anna Fahey: anna@sightline.org.
If you're not subscribed to receive Flashcard emails and want to be added to the list, click here to sign up.