Regulations are down but not out

8. Repeal existing regulations before adopting new ones

9. Enforcing property rights can be superior to regulation

10. Hands off the Internet (the digital economy abhors regulation)

Note that each of the core chapters of Ten Principles broadly address three types of questions:

What is this principle exactly?

Why is this principle important?

How is this principle applied?

Chapter 1 entitled "Regulations seldom solve problems", as do other chapters, mainly draws upon the great thinkers from three free-market friendly schools of economics – ie Public Choice or Virginia, Chicago and Austrian. This chapter, for example, quotes David Friedman (the son of Milton Friedman) who wrote:

Refusing to license the less qualified 50% of physicians may raise the average quality of physicians but it lowers the average quality of medical care. It does not mean that everyone gets better medical care but that half the people get no care [at all] or that everyone gets half as much.

Chapter 2 entitled "Beware of unintended consequences", for example, quotes Robert Bradley as follows:

The deeper the cumulative process, the more unintended and unforeseen the regulatory process becomes. At some point the unforeseen turns into the unforeseeable; the total surprise that is so unique that it is beyond what could have learned through past experience.

Chapter 3 entitled "Regulations frequently redistribute income and power", for example, quotes Murray Rothbard who states: