Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-05-21-Speech-4-075-000"
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"en.20150521.4.4-075-000"2
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"Madam President, my good friend and colleague, Jerzy Buzek, tells us that the staffing of ACER is insufficient for the task we have set out for it in the 2011 REMIT regulation; he calls for 30 additional staff.
I am sure that he is right in his diagnosis, but I am not quite sure that I share his prescription. Rather than increase the staff, we must question the scope of REMIT. The famous Scottish economist, Adam Smith, described the behaviour of markets when thousands of economic operators make deals and decisions based on their own economic self-interest. He called it the ‘invisible hand’. Modern analysts might call it an ‘emergent property’.
It is a general rule that legislative interference in markets almost invariably makes them perform worse rather than better. Of course, no one imagines that a modern economy can operate without appropriate regulation and supervision, but we do not need detailed analysis of each and every deal. Rather than employing more bureaucrats, we should curtail the scope of REMIT."@en1
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