[FoRK] The Looter's War on Selfishness

J. Andrew Rogers andrew at ceruleansystems.com
Mon Mar 23 12:22:28 PDT 2009


On Mar 21, 2009, at 9:02 AM, Stephen Williams wrote:
> It is being argued that the unregulated nature of the current  
> situation is what is creating these mega-boom/bust cycles.  We'd be  
> better off with small, more natural ones perhaps.


The "unregulated nature"? The problem is not the lack of regulation --  
that assertion should be laughable on its face -- but the vast  
mountains of ill-conceived, counter-productive, and stupid regulation,  
and enforcement of said regulations that has long been captured by  
politically well-connected business interests. As long as people  
naively think the problem is lack of regulation instead of incompetent  
and corrupt hyper-regulation, this situation will not be fixed.


The problem of bad regulation is orthogonal as to why there are boom- 
bust cycles, and much of the accelerating boom-bust cycle is an  
expected consequence of accelerating technological advancement for  
reasons that should be obvious. This has been hypothesized for  
decades. You can get rid of them by damping the rate technological  
innovation, but that does not seem like much of an improvement.   
However, part of it is just the perverse economic incentives created  
by government manifesting unintended (but mostly predictable)  
consequences.

Cheers,

J. Andrew Rogers



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