An interesting piece in this morning’s Washington Post about business schizophrenia when it comes to asking for regulation that does not harm the economy in these troubled times. Much of which resonates with experiences the other side of the Pond.
It strikes me that Europe and American companies share the same short term pressures. The pressure on numbers and share price lead to pretty short CEO life spans.
In comparing Brussels and D.C. the difference may be the nature of our legislative system, which would appear in the case of the former to be at least a little more conducive to decisions that have an eye on the longer term.
In Brussels consensus rather than conflict is the modus operandi. While every piece of legislation proposed by the Commission may not be perfect, advocates tend to base arguments on the basis of ensuring that legislation is effective, proportionate and provides the kind of regulatory certainty that the Post argues for. You’re less likely to hear business groups asking for it to be withdrawn completely. Equally our politicians are freed from the chains of public opinion through less frequent elections and scant media coverage.
O.K. Brussels’ consensus based decision-making may often equate to imperfect outcomes, and needless to say imperfect democracy, but perhaps it is also more likely to allow for planning for the long term.
James
