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Rules e.g. establish markets and enable competition: Standard screws or standard contracts. The absence of basic rules like disclosure of service prices is doub
by heisenbit 6y ago
Rules e.g. establish markets and enable competition: Standard screws or standard contracts. The absence of basic rules like disclosure of service prices is doubling the cost of US health care. Other rules force the airlines to compete on services and price but not on safety.
- andrewla 6y agoThis is a grab bag of regulatory and non-regulatory stuff. How long do you spend in jail for making a nonstandard screw? Standard contracts are industry standards (mostly) not government or regulated. Where contracts abut government function is enforcement and to some degree limitations and exclusions on what contracts are allowed to cover. US health care is not easy to one-line, but I think you’d be hard pressed to argue that the space is not heavily regulated already, and yet mysteriously still has tons of problems. Safety regulations I’ll grant you are probably a net benefit to society. Largely because limitations of liability make the situation too asymmetric.