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I think it's pretty much what we'd expect when markets are allowed to operate unhinged; it doesn't necessarily speak to a point in time in an economy's developm

I think it's pretty much what we'd expect when markets are allowed to operate unhinged; it doesn't necessarily speak to a point in time in an economy's development—it moreso speaks to the fact that less developed economies are less strictly regulated because they've yet to develop the case law and obituaries on which protective regulations are formed. With that in mind it's a bit hard to ignore the irony in the regulatory uncoupling that's happening in the US right now. We have learned from our own past and from the aforementioned stories that greed and self interest will always produce externalities that trump a society's well-being; it seems that the lawmakers have too perverse an incentive structure and their constituents have too short a memory to realize which regulations are necessary to protect the greater good.

andrekandre 7y ago
> it seems that the lawmakers have too perverse an incentive structure and their constituents have too short a memory to realize which regulations are necessary to protect the greater good. while reading your post half way i was thinking to reply saying the exact same thing this gives me much pause, because it means that even if more and more these deregulation’s hurt society, they would get drowned out by the (increasingly sensational) daily news cycle
- nikkwong 7y ago
  Yeah; I think it just speaks to the fact that there is no substitution to being a well-informed individual. If you're cognizant about understanding the world around you, you're generally pretty good at weeding bad information out and bringing good information in. Unfortunately, I think the internet has a siloing effect and the most sensational voices rise to the top. People get caught in their silos and don't have an easy way to peek outside. Misinformation spreads; and that's scary when trying to quantify the future of our society.

andrekandre 7y ago

> it seems that the lawmakers have too perverse an incentive structure and their constituents have too short a memory to realize which regulations are necessary to protect the greater good. while reading your post half way i was thinking to reply saying the exact same thing this gives me much pause, because it means that even if more and more these deregulation’s hurt society, they would get drowned out by the (increasingly sensational) daily news cycle

nikkwong 7y ago
Yeah; I think it just speaks to the fact that there is no substitution to being a well-informed individual. If you're cognizant about understanding the world around you, you're generally pretty good at weeding bad information out and bringing good information in. Unfortunately, I think the internet has a siloing effect and the most sensational voices rise to the top. People get caught in their silos and don't have an easy way to peek outside. Misinformation spreads; and that's scary when trying to quantify the future of our society.