Once a model for the world, the EU’s rulemaking machine has faltered under the weight of its own ambition.
Paywall? https://archive.is/CmWdg
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The EU regulations have earned a reputation for being a bit of a mess. While very robust, they’re less agile and predictable and have raised the bar to the extent that the EU has become the most costly and time-consuming jurisdiction to get medical device approval,” he said.
By which margin? 10% more is acceptable, 10 times more will kill innovation.
The advantage of the unified market is that there are less regulations to process. The EU kills their advantage by creating more regulations.
The blind spot is that in the past, new EU regulations reduced the complexity of national regulations. Now everything is unified and new EU regulations are not a net efficiency improvement.
Not everything is unified sadly. I read somewhere that when it comes to services, the different rules within the EU is effectively a 40% tariff between EU countries.
There is much to be done, if only people could set aside national interests and understand that it’s EU27 vs World and not Finland vs Italy or Greece vs Luxembourg.
Good read. The Brussels effect seems to be facing the same problems the rest of the EU is facing - increased pressure from the outside.
On the tech side I think it’s mostly that tech giants can now use the US as an instrument to apply pressure more than it is EU regulatory overreach on AI. Yeah, the EU has failed to manifest their own tech giants, but I’d argue this is a good thing because holy shit the tech giants are a cancerous blob on society.
holy shit the tech giants are a cancerous blob on society.
This can only be changed if they can be controlled. Hardly possible if somebody else owns them.
Very true on the outside pressure, especially now. On the point of tech giants I kind of agree but not quite, we should try to build our own, industry up, but regulate them to prevent the dominance of the big three US cloud providers for example. The problem here is that tech scales very well, so the bigger you are the better your services.
Not sure why this is so downvoted. It’s not a bad article.
I downvoted it for the paywall, then went into the comments to whine, only to find the archive link.
Some people might not have done that second bit.
Most, if not all, that I post have an archive link if there’s a paywall.
Good that you got to read the article at least. 😀