Public Policy State regulators Theory(ish)

Christmas, Brexit, regulation, and how ‘good’ and ‘bad’ uncertainty is fundamentally the same

Christmas gifts greatly determine what kids play after Christmas. If they get a soccer ball, they’ll play football. If the gift is a remote control car, they’ll drive that thing until batteries run out.

In my case, my parents never told me what I would get. It was a surprise.

Surprises are uncertainty. They can be bad, but, also, they can be good.

Christmas surprises were always good for me. I knew I was going to get something, and that was exciting. However, without the information of what I would get, I could not have predicted what I would be playing afterwards.

I had to adapt my behaviour once gifts were unveiled.

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UK is facing a challenge that has created great uncertainty, ‘Brexit’.

UK regulators know that when Brexit arrives, the task will be great, but it is impossible for them to say precisely what they will do after Brexit.

And so… They will have to adapt.

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Uncertainty can be good or bad. It can cause emotion or anxiety. It may be present in trivial situations or in very important matters. However, deep down below all uncertainty seems fundamentally the same.

It’s about not knowing what the future will bring and having to adapt once the future reveals itself.