If we take media or financial market commentary as a guide, the focus is on a decision that may have just been made and what it may mean for the next decision, or whether today’s economy was operating at its potential.
Periods of deregulation have usually been followed by a crisis, then followed by a period of reregulation, and again by a period of deregulation. It is precisely in phases of re-regulation that banks tend to complain about the time and money it costs – and the present period is no exception. But are we really overregulating?