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Max More's avatar

My personal favorite of your is "Don't Endorse the Idea of Market Failure." An extremely important topic and the perspective you so well present should be promoted far and wide. Thanks for writing an excellent post that I can easily point people to.

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J.K. Lund's avatar

This juxtaposition between the FAA and DOT is an interesting distinction and worthy of discussion as regulatory design and burden are likely to be a hot topic in the next 18 months.

There is a mountain of evidence that the expansion of the regulatory state after 1970 slowed economic growth, and what we call “progress,” more generally.

There is, however, less consensus as to how we best design regulations and cull those that do not function as intended.

The approach that I have suggested is that all laws and regulations should come with a mandatory sunset period after five years. This shifts the default state: from one of constantly piling on new regulations to one of deletion.

The state will have to take action to justify the continuation of a regulation or law, which is harder than simply allowing a poorly designed regulation to continue in perpetuity.

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