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I've heard the argument before that you want to encourage, as the article calls it, rent seeking because it demonstrates flaws in the market/regulation and if m
by dcow 9y ago
I've heard the argument before that you want to encourage, as the article calls it, rent seeking because it demonstrates flaws in the market/regulation and if more people exploit them they become more visible. When they're sufficiently visible they can be addressed by the public. It seems like this cycle must exist in order to make progress in economic regulation. It also feels like a society needs a strong leader who can unite people under a preferred economic policy in the first place. No progress will be made endlessly bickering over preferred political ideaology and thrashing on regulatory laws and guidance. How do you make progress in the US where we endlessly bicker over policy direction and have marginalized the utility of a strong leader? I don't know.
- dredmorbius 9y agoSource?
- dcow 9y agoAn old economics major roommate.
- dredmorbius 9y agoA storied though difficult-to-cite source. Sounds vaguely Schumpertarian. Though your first description is mor National System / Friedrich List.