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RE: What is a rent-seeking economy? Has the EU become one?
Yes, the EU is increasingly becoming a rent-seeking economy, where heavy regulation protects established giants at the expense of innovation. So, what does this mean? Clearly, to reverse this, must replace bureaucratic gatekeeping with regulatory sandboxes, mandate a one-in, two-out rule for new laws, and shift incentives to reward the simplification of business processes rather than their expansion.
0.00947201 BEE
I like the one-in, two-out rule for new laws and regulation. That should be made mandatory. There is no incentive for politicians to simplify market entry and helping SMBs for example as they are paid/corrupted by big players.