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What Tommy Boy Teaches Us About Entrepreneurship and the Regulatory State

The go-get-em attitude seen in ‘Tommy Boy’ is just one of the key ingredients to entrepreneurial success.

Regulations attempt to manage and control complex systems according to what has been deemed as appropriate behavior – and therein lies the problem. Complex systems are complex and what is “appropriate” is subjective and tends to be situationally dependent.

For regulatory bodies that are on the outside looking in, data can be misleading and algorithms can be misconstrued, and this was depicted in a recently released policy report by the Consumer Choice Center. Regardless of whether they concern talcum-based baby powder or crop-protecting pesticides, the report explains how blanket bans and one-size fits all approaches overlook the idiosyncrasies present within industries and the long-term implications of imposed restrictions.

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