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CronoDAS comments on Mandating Information Disclosure vs. Banning Deceptive Contract Terms - Less Wrong
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Comments (74)
How does the theory of voluntary transactions account for, say, Bernie Madoff?
Madoff committed fraud.
If you give me $1,000 for a ring that I tell you is platinum and it ends up being silver I have violated our contract.
Maldoff did not simply manage peoples money ineptly he stole it.