3 ms·
That's a very insightful and very depressing analysis.
by woodandsteel 7y ago
That's a very insightful and very depressing analysis.
- dredmorbius 7y agoThey don't call it "the dismal science" for nothing. The value of the analysis though is to recognise just what the power of apparent pricing is. And that if you want to change behaviours you've got to change that price. There are recognised ways of doing that. One is to impose mandatory floors or minima of behaviour / requirements. One is to price in externalised risks. That's what insurance, posting bonds, licensing and credentialing (in some regards), and the like can do. All move the potential costs of future events to the present. Strictly prohibiting certain types of transactions is frequently latched onto. That has certain benefits, but risks creating black markets, as with prohibition and the war on (some) drugs. Enforcement / control mechanisms all also become potential avenues for power co-option or manipulation. Taxing activities or wealth derived from them is another option. As is mandating open access in specific contexts -- e.g., "common carrier" status, "equal time" doctrines, "fairness doctrine", etc.