2023-12-16


Worthy

  • The Grumpy Economist: Time for a new theory of regulation

    This doesn't fit either the econ 101, benevolent nanny, or regulatory capture view. Fundamentally, regulators have captured the industry, not the other way around. They hold arbitrary discretionary power to impose huge costs or just shut down companies. They use this power to elicit political support from the companies. There is a bit of old Chicago school capture in the deal. Companies get protected markets. But the regulators now don't just want a few three martini lunches and a cozy revolving door to "consultant" jobs. They demand, political support. The regulators are more political ideologues than gently corruptible insiders.


Religion / Tribal / Culture War and Re-Segregation

Health / Medicine