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People, it's good point actually. In a recent article on a new lobbying group trying to onshore chip production https://news.ycombinator.com/item?id=27121586 h
by baybal2 5y ago
People, it's good point actually.
In a recent article on a new lobbying group trying to onshore chip production https://news.ycombinator.com/item?id=27121586 https://news.ycombinator.com/item?id=27121586 a lot of people pointed out it's this weakness incentivising lobbying.
In other words US establishment invites regulatory capture through expectation of lobbying action creating even bigger opportunities to draw a dire picture, and demand more state intervention favourable to the industry.
More lobbying & pushback > industry situation worsens > opportunity to draw a dire situation > favourable intervention & more handouts > repeat
The poorer they do, they bigger are the handouts.
- Animats 5y agoRight. That's called "lemon socialism". Britain, in its most socialist period, the 1950s, had the government owning the railroads, the coal industry, and the steel industry. All lemons, and all way overstaffed.