saliency comments on Opaque fragile systems/institutions dominate. - Less Wrong
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"compliance costs vs. the risk of paying more taxes" -- This is why I use health savings accounts and commuter plans as an example.
"myopic" consumers -- There really are no individual consumers there are transactions. Myopic transactions perhaps would be a better description. On aggregate we have lots of myopic transactions. (bounded rationality) To answer you question -- I agree with you second part on myopic's but don't see how it is a problem for G&L. Sophisticateds are the ones driving the evolution of the system.