Technological innovation is reshaping markets and creating new opportunities for businesses at a faster rate than at any other time in living memory. But to realise the promise of greater economic growth, incumbent businesses, challengers and the policymakers who regulate them need to find a balance that encourages fairness without either stifling entrepreneurialism or compromising the public interest.
In order to build greater understanding of the trade-offs at play in ensuring a level playing field, Two Sigma sponsored a report by the Economist Intelligence Unit that explores the specific challenges that regulators face when it comes to disruptors, and explores workable models for increased collaboration between the public and private sectors.
I would define a level playing field in the market as a scenario in which no participant has a particular advantage over the others, that everyone is working with the same resources and materials, and of course one that’s protecting and supporting consumers with choice and safety.
Most people look at the term [level playing field] as referring to the competitors in the market. And that concept of equality is not what we want. It’s consumers that we want to really have the benefits, and we want the focus of policy to be on them, not on the competitors.