> One of the main roles of government is to step in where markets fail.
Because that's worked out great so far?
In every case I can think of, the government (usually because it's already captured) only ever serves to further exacerbate the issue.
Because that's worked out great so far?
In every case I can think of, the government (usually because it's already captured) only ever serves to further exacerbate the issue.
They have also had many catastrophic failures.
It’s unclear whether in the end regulations trend towards net benefit, but it does seem likely that the more nebulous a problem, the harder it is for government to get it right. Or anyone, for that matter. But especially government because the feedback loop is so slow and bad.