AFPs: efecto manada y colusión

Señor Director:

Nadie puede salirse de la manada, porque la regulación castiga al que se aleja del promedio.

La manada no puede acordar salirse toda junta, porque la regulación sanciona los acuerdos de competidores (colusión). Por eso van a la autoridad para que ella les ordene salirse de la inversión, así disminuyen el riesgo financiero y no violan la ley.

Toda regulación tiene costos y por eso se debe regular solo cuando los beneficios superan a los costos. Eso es lo que debiéramos estar analizando y no cómo corregir los defectos regulatorios con otra regulación.

Las opiniones expresadas en esta publicación son de exclusiva responsabilidad del autor y no necesariamente representan las de Fundación para el Progreso, ni las de su Directorio, Senior Fellows u otros miembros.

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Súmate a la FPP

Dona

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AFPs: efecto manada y colusión

ÚLTIMAS OPINIONES

La guerra contra el capital humano

El mérito de la política

Derecho al buenismo vacío

«La libertad no se pierde por quienes se esmeran en atacarla, sino por quienes no son capaces de defenderla»

«La libertad no se pierde por
quienes se esmeran en atacarla, sino por quienes
no son capaces de defenderla»