Another monthly installment of the rationality quotes thread. The usual rules apply:
- Please post all quotes separately, so that they can be upvoted or downvoted separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
- Do not quote yourself.
- Do not quote comments or posts from Less Wrong itself or from Overcoming Bias.
- No more than 5 quotes per person per monthly thread, please.
Designing for resillence is not the same thing as designing a system to get politicans to do certain things. If you think as Miltion Friedman that "the right" thing is free market policies, designing the political system in a way that gives political advantages to those people who push free market policies, you are likely reduce resiliency.
Given Friedman's politics I doubt that he had actions such as restricting members ability to trade stocks in mind. That's not the kind of political agenda that Friedman pushed.
Then I don't think you understand what that policy does. Lawmakers get their information regardless of how they vote or what policies they persue. That kind of insider trading allows lawmakers to personally enrich themselves instead of making bargains with people who want to hand them money.
What the policy does do, is that it provides a new tool for the people who have information about the trades that a congressman makes, to blackmail the congressman.
You might get some positive effects through the policy, so I'm not clear that it's a bad law.
What's the problem that you are trying to solve in the first place? Insider-trade? Let Eliot Spitzer run the SEC and double SEC funding. Insider trading doesn't exist because there a lack of laws against the practice.
I didn't downvote you, but I'm not continuing the argument because it seems really political in a partisan way. I suspect that's what's motivating the downvotes.