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My problem with government intervention isn't the "inefficiency" myth. Like most large complex entities referred to in the aggregate abstract, they do some thi
by tinymollusk 9y ago
My problem with government intervention isn't the "inefficiency" myth. Like most large complex entities referred to in the aggregate abstract, they do some things well and some poorly.
My concern with gov't action is the second and third order effects. Governments are implemented primarily by bureaucrats, whose primary incentive is to maintain their job. Any policy that gets implemented poorly (inefficiently), tends to continue because of the employees personal incentives.
This suggests, to me, that governments (as they are in America today) should not be experimenting. Culling the losers is super important for exploration, and probably the thing our local/state/federal gov't is worst at.
(If a company makes repeatedly poor decisions, they will tend towards insolvency/change in management.)