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August 16, 2007
The Evils of Government
When one works in emerging markets, above all in direct investment - none of the silly portfolio investment in stable listed firms - one brims over with examples of why government licensing in emerging markets is a general evil.
Here is one live example, from a start up: going to company registry - the so-called "one stop shop" (of subliterate paper-pushing parasites) that pretends to have the authority to review corporate bylaws, the no doubt literature major hired to absorb the flood of useless graduates from the state universities, refused to accept the by-laws with a 331/3 division between the founders. Didn't add up to 100% claimed the sub-literate. After much arguing the said entrepreneurs were forced to change the bylaws. By one little cretin with the maths skills of ... well a literature major.
Posted by The Lounsbury at August 16, 2007 03:07 PM
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Perso Biz Notes
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Comments
Reminds me of a provincial bank branch who wouldn't accept an administrator's signature. The legal authority of the administrator was constantly ignored because the bumpkins knew I was the main owner and for them I was the only one with the authority to take decisions. The chimps had me do some paperwork gymnastics constantly from abroad to get things done.
Posted by: Shaheen ![[TypeKey Profile Page]](http://lounsbury.aqoul.com/nav-commenters.gif)
at August 17, 2007 05:47 AM
Another case, where I wasted two months in bureaucratic mazes (in civilized France s'il vous plait), because my partner's mother's maiden name was the same as his father's (remote cousins). The monkey that my taxes keep alive decided it was impossible and rejected the bylaws and associated files because of it...
Posted by: Shaheen at August 17, 2007 05:51 AM
"...why government licensing in emerging markets is a general evil."
No, "why government licensing in . . . markets is a general evil."
Spare me thy moderate classical liberalism.
-- Fundamentalist, but not Randian
Posted by: matthew hogan at August 17, 2007 05:09 PM
But that is me nature, boy, immoderate moderation. Nasty biting moderation.
Besides, I dislike unbounded caveat emptor.
Posted by: The Lounsbury at August 17, 2007 08:26 PM
