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This is a side effect of regulations which prevent the competition from selling chemicals that are very cheap to synthesize. Createing monopolies and then tryin
by Moshe_Silnorin 10y ago
This is a side effect of regulations which prevent the competition from selling chemicals that are very cheap to synthesize. Createing monopolies and then trying to fix the ills this causes with a government monopsony seems backwards.
- chongli 10y agoRegulations are, like many other forces, subject to forming equilibria. Too many, and you get EpiPen price gouging; not enough, and you get the melamine milk scandal[0]. I agree that creating monopolies and then fighting them with monopsonies is ridiculous, backwards, silly, and inefficient. But life is a coordination game[1], so too bad[2]! [0] https://en.wikipedia.org/wiki/2008_Chinese_milk_scandal https://en.wikipedia.org/wiki/2008_Chinese_milk_scandal [1] https://en.wikipedia.org/wiki/Coordination_game https://en.wikipedia.org/wiki/Coordination_game [2] http://slatestarcodex.com/2014/07/30/meditations-on-moloch/ http://slatestarcodex.com/2014/07/30/meditations-on-moloch/