Wow I wish we had principle-based regulation in the US. It seems like rules are made specifically so that only wealthy, entrenched institutions can follow them without significant burden. When those institutions fail, the fines don't seem relative to profit or size of the company or anything.
I suspect it wouldn’t work in the US. Principles based regulation requires some level of concensus on principles. We don’t have that in the US. Polarization breeds rules worship because you don’t trust the other people to use their discretion.
Consider, for example, how every major social issue devolves into a Constitutional litigation. Whereas in Europe people just vote on stuff.
And as to regulatory approaches I think you’d be surprised. European regulation is often quite conservative.
Oh totally agree. Just think about the DMV. The people who work there cite the law word with zero discretion. Most US companies are like that as well. It's quite dystopian.
Well lets say it wouldn't work with the current ruling class mindset where everyone they employ is stupid and unable to think critically.
It depends on where you are. In places like Oregon, the DMV is a friendly place full of smiles where expiration dates can slip a few days and you don't have to change your hairstyle for your ID photo.
