One view of political organisation 1. We live in a nation, and want to reconcile our wish to be free individuals and our hope that we can live together in peace. There may be conflicts between us.
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practitioner- and customer-driven, to serve their individual ends,
under the law, esp. common law and precedent,
tradition of self-regulation, and
change comes from below.
to serve the state’s larger ends (‘competitiveness’),
laws exist, but they can be changed to serve bureaucracy and state’s larger ends,
tradition of state intervention and ownership, and
change comes from above.Two different philosophies of the state’s role in financial services
If bogus objectives like ‘tax harmonisation’ (i.e., attacking low tax or no tax jurisdictions, and move of assets to such jurisdictions) are excluded, key aim is the ‘common passport’ for domestic, retail financial services businesses across the EU. This supposed to lead to more competition and choice, and economies of scale in financial services ‘production’.