You're looking at Less Wrong's discussion board. This includes all posts, including those that haven't been promoted to the front page yet. For more information, see About Less Wrong.

TimS comments on Value evolution - Less Wrong Discussion

14 Post author: PhilGoetz 08 December 2011 11:47PM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (111)

You are viewing a single comment's thread. Show more comments above.

Comment author: TimS 09 December 2011 01:43:03PM 0 points [-]

Public choice is an excellent attack on the naive view that all politics is aimed at "improving society as a whole." And regulatory capture of agencies like the Civil Aeronautics Board, allowing airline rate setting that favored established airlines, is an expected outcome according to public choice theory. But the CAB was abolished eventually.

More broadly, the expansion of so-called "minority rights" is not well-explained by economic theory. Even with the moral justifications supporting employment discrimination law, it is not accurate to say that prohibiting some reasons for hiring and firing workers is more efficient. At best, economic efficiency is unaffected.