tag:blogger.com,1999:blog-5624436327404149621.post7443801358601297820..comments2024-03-28T20:07:31.640-07:00Comments on Quantitative Ease by Carola Binder: Regulation: A Nation DividedCarolahttp://www.blogger.com/profile/12783977056485775882noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5624436327404149621.post-36538404737028184912013-02-03T08:34:51.308-08:002013-02-03T08:34:51.308-08:00I think the example is a good one when illustratin...I think the example is a good one when illustrating certain attitudes and biases towards the role of regulation.<br /><br />However, in the case of the economy, it is a bit misleading. What we are dealing with there in many cases is purposeful fraud, mislabeling of risk, and predatory criminal behaviour. <br /><br />If the blender company had created a product that did not work, that was grossly misdesigned and badly manufactured, that in many cases did not work as advertised, and was supported by a well funded campgaign of deception and bribery, then the comparison might be more apropos.<br /><br />The 'rational expectations' model has its allure, and is fatally flawed. <br /><br />Jessehttps://www.blogger.com/profile/10098169118867085623noreply@blogger.comtag:blogger.com,1999:blog-5624436327404149621.post-25457431290845342662013-02-03T07:06:26.022-08:002013-02-03T07:06:26.022-08:00but it's inconsistent. poll a broad set of ant...but it's inconsistent. poll a broad set of anti-regulation people (not just internet libertarian firebrands), and i'd expect you'd find a plurality, even a majority, in favor of killing people AS A PRECAUTION against future harm, if the state is doing the killing, and the people to be killed are outsiders.<br /><br />you could see the iraq invasion, for instance, as a gigantic regulatory overreach, fettering hundreds of thousands of innocent people with loss of life; to many americans this was justified as either precautionary, or (more often, actually) retaliation for entirely different malefactors' crime on 9/11.<br /><br />there's an ugly intersection here, where people give each other permission to be stupid, then shrug off murdering hundreds of thousands of people as a mistake to learn from.hapanoreply@blogger.com