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> The action itself should be judged on its own merit, in its cost to society, independent of its connection to other factors that may have negative or positive
by speedplane 7y ago
> The action itself should be judged on its own merit, in its cost to society, independent of its connection to other factors that may have negative or positive impacts on society.
I think you're missing my point. I agree that many policies should largely be measured with an objective cost benefit analysis. However, for emerging technologies, it can be very difficult to accurately perform such a cost benefit analysis. There is less data, and confidence levels are lower.
It's much easier to evaluate the cost/benefit of taxis than scooters simply because there is far more historical data.
- CryptoPunk 7y agoMy point is that it should not be the job of regulators to do cost-benefit analyses on product categories. It should be to simply measure the cost of a negative externality, in a technology/product agnostic way, and make sure entrepeneurs pay that cost. The cost-benefit analysis is then done by private parties, in order to avoid losses and maximize profits.
- speedplane 7y ago> The cost-benefit analysis is then done by private parties, in order to avoid losses and maximize profits. This is such a theoretical statements that ignores so many realities. Uber wants to enter a new city. The city has an established taxi industry and policies in place to manage pollution, congestion, housing, and new development. What "private parties" are supposed to do the cost-benefit analysis here? Obviously it's in Uber's interest to move in, but what if that increases pollution or the livability of the city to the existing residents? There are no private parties that are in a position to do a credible and representative analysis of the costs and benefits.