[From Bruce Gregory (2010.02.18.1404 UT)]
From Martin Lewitt (2010.02.17.18:07 MST)
I don't know how carefully you have studied these issues, but there are sophisticated apologia for all of these. Believe it or not there are intellectuals on the right, although they disdain the label. You underestimate the opposition at your own risk.
Is this an idle threat or is the Chicago School planning a coup d'etat? If the later, I have learned my catechism. Savings always equal investment. Public spending always crowds out private spending. Tax cuts increase savings and therefore investments. All investment is good. Regulation distorts the market and therefore regulation is bad.
The Market giveth and the Market taketh away. Blessed be the name of the Market.
Bruce
[From Bill Powers (2010.02.18.0932 MST)]
Bruce Gregory (2010.02.18.1404 UT) --
BG: Regulation distorts the market and therefore regulation is bad.
BP: That's what they say, I agree. I have always wanted to ask for some specific examples. Name a regulation that is getting in the way of business. What is it you want to do, I would ask, that the present regulations keep you from doing?
Best,
Bill P.
[From Martin Lewitt (2010.02.18.1118 MST)]
[From Bill Powers (2010.02.18.0932 MST)]
Bruce Gregory (2010.02.18.1404 UT) --
BG: Regulation distorts the market and therefore regulation is bad.
BP: That's what they say, I agree. I have always wanted to ask for some specific examples. Name a regulation that is getting in the way of business. What is it you want to do, I would ask, that the present regulations keep you from doing?
Best,
Bill P.
Consider the regulation that required me to get a prescription for a non-sedating anti-histamine (like claritin). It increased the effective cost, resulting in an MD and a pharmacist getting a cut, extra car trips to more distant facilities and the utilization of a more costly distribution system. Fortuantely claritin is now available over the counter.
Consider the extensive licensing requirements for MDs that require $150,000+ educations. Nurse levels of education should be able to serve most routine medical needs, yet the government doesn't allow a less expensive option with a prescription pad. I'd like to practice some medicine right now to supplement my income during this period of unemployment. I am familiar with most of the classes of medications used to manage the most common chronic conditions.
Consider the $2000 auto's being produced by Tata in India. They don't meet US safety standards or pollution standards, but have good fuel economy and a smaller carbon footprint. I bet they are safer than motorcycles, but I don't think the government will let me sell them.
-- Martin L
[From Bill Powers (2010.02.18.1130 MST)]
From Martin Lewitt (2010.02.18.1118 MST) --
BP earlier: What is it you want to do, I would ask, that the present regulations keep you from doing?
Consider the regulation that required me to get a prescription for a non-sedating anti-histamine (like claritin). It increased the effective cost, resulting in an MD and a pharmacist getting a cut, extra car trips to more distant facilities and the utilization of a more costly distribution system. Fortuantely claritin is now available over the counter.
So if there were no regulations about which drugs require prescriptions, you would decide for yourself which drugs to buy and take? Or is your objection not to regulation per se, but to some particular regulation that affects you that you would like to see changed?
Consider the extensive licensing requirements for MDs that require $150,000+ educations. Nurse levels of education should be able to serve most routine medical needs, yet the government doesn't allow a less expensive option with a prescription pad. I'd like to practice some medicine right now to supplement my income during this period of unemployment. I am familiar with most of the classes of medications used to manage the most common chronic conditions.
If there were no regulations about practicing medicine, would you start doing it? Or is this not about regulation per se, but about particular regulations that affect you directly? Would you object to a regulation saying that before you could prescribe medicines you would have to pass some kind of test? Or would some medicines still require regulation as who can obtain them?
Consider the $2000 auto's being produced by Tata in India. They don't meet US safety standards or pollution standards, but have good fuel economy and a smaller carbon footprint. I bet they are safer than motorcycles, but I don't think the government will let me sell them.
And once more: if there weren't any regulations about safety or pollution, would you sell them in the US?
Best,
Bill P.