new’speak n(y)oospk/ noun
1. Ambiguous euphemistic language used chiefly in political propaganda.
‘Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thought-crime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. . . . The process will still be continuing long after you and I are dead. Every year fewer and fewer words; and the range of consciousness always a little smaller. Even now, of course, there’s no reason or excuse for committing thought-crime. It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. . . . Has it ever occurred to you, Winston, that by the year 2050, at the very latest, not a single human being will be alive who could understand such a conversation as we are having now?’
‘ George Orwell, 1984 Regulation is Newspeak
Things are not at all what they seem.
The word ‘regulation’ has become a euphemism for control and the infestation of concentrated power and wealth. The ‘need to regulate’ is floated as a panacea. In reality it is mere conduit for the influx bureaucracy gone wild.
Consumers – market participants – need to be protected. And yet these protections simply morph into a lobbyist’s dream come true, ending in an industry-constructed bureaucratic death trap that ultimately creates a medieval mote surrounding the masters.
We end up with revolving door madness, in which regulators are sourced from industry to ‘serve’ and then return back to consult. Examples of individuals who have moved between roles in this way in sensitive areas include Dick Cheney (military contracting), Linda Fisher (pesticide and biotech), Philip Perry (homeland security), Pat Toomey, Dan Coats, and former FCC commissioner Meredith Attwell Baker (media lobbying).
This post was published at Silver-Coin-Investor on December 7, 2014.