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  #11  
Old 09-01-2011, 02:57 PM
Starwatcher162536 Starwatcher162536 is offline
 
Join Date: Mar 2009
Location: Houston, TX
Posts: 1,658
Default Re: Booze and Money (Tim Fernholz & Megan McArdle)

Quote:
Originally Posted by Sulla the Dictator View Post
Are you worried that the state crafts laws which can limit its liability if it screws up? Are you concerned that the state picks winners and losers in the market, and those winners usually end up being the people who contributed more to their political campaigns?
Which is why I tend to support macro level policies in lieu of micro level policies. For example; I'm for a carbon tax. I'm against subsidies to particular green technologies. For macro policies that affect everyone the mechanism between money and outcomes is severed because macro policies affect everyone and make it hard for interests to line up together when everyone is against everyone. For instance when policies are set that affect the relative strength of the dollor I'm generally not worried that the relative funding from importers/exporters is what decided it.

It's sort of a free rider problem for bribers. It only makes sense to try and bribe your way to some policy if you can get everyone to pinch in. A few big players will never recoup their interests if they go in alone. This free rider problem isn't as prevalent for micro policies.
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