A more iterative regulatory approach allows learning on the go.
- A more iterative regulatory approach allows learning on the go.
- Contrast with a regulatory approach that does one big bang and then leaves it in perpetuity.
- This can happen when regulations are extremely expensive to create.
- The former system can learn, grow, and adapt.
- The latter system can't learn, so the system will learn around it, often in ways that are maladaptive for the overall system.
- Japan has a much more iterative regulatory system than the US.