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> Regulation creates the trust that's essential for any economic activity. At the moment that seems completely false to me. I don't remember a single time I to

by tn13 10y ago

> Regulation creates the trust that's essential for any economic activity. At the moment that seems completely false to me. I don't remember a single time I took any government regulation seriously. For example I take my mechanic's advice about car safety far more seriously than government reports and ratings. I trust Yelp lot more to chose a doctor for my kid than any government report. Honestly, I dont even care if the doctor actually had a medical degree or not if the yelp reviews and my peer's reviews about that doctor are good enough. Regulator's role in deceiving public on important issues on the contrary makes me fare more skeptical. Regulator's stand on marijuana, vaping, sugar, fat, mother's milk, ethanol in gas and many others things is often false.

dpark 10y ago
> For example I take my mechanic's advice about car safety far more seriously than government reports and ratings. Why? Your mechanic might have useful insight into the reliability of cars but would have little more visibility into the safety of cars than the average person. > Honestly, I dont even care if the doctor actually had a medical degree or not if the yelp reviews and my peer's reviews about that doctor are good enough. I hope your kid is a rhetorical device and not an actual child.
- tn13 10y ago
  > Your mechanic might have useful insight into the reliability of cars but would have little more visibility into the safety of cars than the average person. On the contrary he knows more people in real accidents unlike the regulators and sees on regular basis which car did better and worse. He has a clear skin in the game to offer me reliable advice. > I hope your kid is a rhetorical device and not an actual child. It is a rhetorical device but I hardly doubt people demand to see their pediatrician's degree certificate.
  - dpark 10y ago
    Your mechanic definitely doesn't have sufficient data to make meaningful statements about which cars are safer. Your mechanic might have opinions about which models look better or worse after certain types of accidents but that says nothing about safety. Safety data is gathered by either recording accident outcomes or by simulating accidents. Your mechanic is doing neither of those. In fact the most important outcome is whether a passenger or driver dies, and your mechanic probably never sees those because the cars are generally totaled. Most people don't demand to see the pediatrician's degree and certifications because the government regulates the industry.
    - tn13 10y ago
      You are right. He does not have sufficient data to make meaningful statement about all cars and his knowledge is probably incomplete even about specific cars. But yet what he sees is a real world data far more accurate than what is collected by some agency or simulations performed in the lab. He is a guy with some real skin in the game. I might not ask him if car X is good or bad but most certainly pay heed to him when he says car Y sees a lot of problems. > Most people don't demand to see the pediatrician's degree and certifications because the government regulates the industry. People refer to yelp, friends and other known patients before visiting a doctor. Or they rely on a reputable brand of the hospital which has all the incentive to employ good doctors. Government regulation or not people do not rely on mere certificate the doctor has and instead rely on other much more collaborative system to figure out who is a good doctor. In the absence of government's heavy handed approach of medical regulation the market can perhaps develop a FICO like score for doctors.
      - matt4077 10y ago
        This is just insane... You're basically living about 300 years in the past, completely rejection of the scientific method. Daily life must be fascinating. All these miracles – wireless phones, glowing globes, flying(like off the ground!). Experts are completely useless, so these things must be spiritual creatures, created for the pleasure of "street-smart" people. I wish there were a way for such people to actually opt out the system they reject.
        tn13 10y ago
        Experts are useless when they don't have skin in the game. A educational expert advising president about education is mostly as ass-hole where as a teacher, principle or private tutor might be far more trust-worthy. Not one of that invention you list is made by experts working to help people. On the contrary they are a result of spontaneous order created by people pursuing self interest.
        dpark 10y ago
anigbrowl 10y ago
I don't remember a single time I took any government regulation seriously. Well then you're just a foolish person. The absurdity of some regulations doesn't mean that all regulations are absurd - that's a simple fallacy of composition. I dont even care if the doctor actually had a medical degree or not if the yelp reviews and my peer's reviews about that doctor are good enough. Yeah sure buddy. Come over next time you have a bad pain and I'll operate for cheap. I have a really high karma score so you know I'm legit.

by tn13 10y ago

dpark 10y ago

> For example I take my mechanic's advice about car safety far more seriously than government reports and ratings. Why? Your mechanic might have useful insight into the reliability of cars but would have little more visibility into the safety of cars than the average person. > Honestly, I dont even care if the doctor actually had a medical degree or not if the yelp reviews and my peer's reviews about that doctor are good enough. I hope your kid is a rhetorical device and not an actual child.

tn13 10y ago
> Your mechanic might have useful insight into the reliability of cars but would have little more visibility into the safety of cars than the average person. On the contrary he knows more people in real accidents unlike the regulators and sees on regular basis which car did better and worse. He has a clear skin in the game to offer me reliable advice. > I hope your kid is a rhetorical device and not an actual child. It is a rhetorical device but I hardly doubt people demand to see their pediatrician's degree certificate.
- dpark 10y ago
  Your mechanic definitely doesn't have sufficient data to make meaningful statements about which cars are safer. Your mechanic might have opinions about which models look better or worse after certain types of accidents but that says nothing about safety. Safety data is gathered by either recording accident outcomes or by simulating accidents. Your mechanic is doing neither of those. In fact the most important outcome is whether a passenger or driver dies, and your mechanic probably never sees those because the cars are generally totaled. Most people don't demand to see the pediatrician's degree and certifications because the government regulates the industry.
  - tn13 10y ago
    You are right. He does not have sufficient data to make meaningful statement about all cars and his knowledge is probably incomplete even about specific cars. But yet what he sees is a real world data far more accurate than what is collected by some agency or simulations performed in the lab. He is a guy with some real skin in the game. I might not ask him if car X is good or bad but most certainly pay heed to him when he says car Y sees a lot of problems. > Most people don't demand to see the pediatrician's degree and certifications because the government regulates the industry. People refer to yelp, friends and other known patients before visiting a doctor. Or they rely on a reputable brand of the hospital which has all the incentive to employ good doctors. Government regulation or not people do not rely on mere certificate the doctor has and instead rely on other much more collaborative system to figure out who is a good doctor. In the absence of government's heavy handed approach of medical regulation the market can perhaps develop a FICO like score for doctors.
    - matt4077 10y ago
      This is just insane... You're basically living about 300 years in the past, completely rejection of the scientific method. Daily life must be fascinating. All these miracles – wireless phones, glowing globes, flying(like off the ground!). Experts are completely useless, so these things must be spiritual creatures, created for the pleasure of "street-smart" people. I wish there were a way for such people to actually opt out the system they reject.
      - tn13 10y ago
        Experts are useless when they don't have skin in the game. A educational expert advising president about education is mostly as ass-hole where as a teacher, principle or private tutor might be far more trust-worthy. Not one of that invention you list is made by experts working to help people. On the contrary they are a result of spontaneous order created by people pursuing self interest.
        dpark 10y ago

anigbrowl 10y ago

I don't remember a single time I took any government regulation seriously. Well then you're just a foolish person. The absurdity of some regulations doesn't mean that all regulations are absurd - that's a simple fallacy of composition. I dont even care if the doctor actually had a medical degree or not if the yelp reviews and my peer's reviews about that doctor are good enough. Yeah sure buddy. Come over next time you have a bad pain and I'll operate for cheap. I have a really high karma score so you know I'm legit.