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RE: What actually is a regulation?

in #economics7 years ago

Does the imposition of a cost mean something is necessarily bad? What if a greater benefit is produced than the cost imposed? What if the benefit is to those who have greater need than those on whom the cost is imposed? What if greater benefit is brought to those on whom the cost is imposed in the first place, as with regulatory solutions to coordination problems and common pool resources?

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utilitarianism is a very dangerous road to go down (see Robert Nozick's critique)

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