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Comments on: Careful with regulation http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/ The Visible Hand in Economics Thu, 12 Jul 2012 00:11:40 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Matt Nolan http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38872 Thu, 12 Jul 2012 00:11:40 +0000 http://www.tvhe.co.nz/?p=7185#comment-38872 In reply to jamesz.

I am definitely assuming that interventions that we have stated are based on arguments of time inconsistency are invalid.

Sure, we could assume other things (eg stupidity), and if they want to come out with those justifications for policy, I’ll look at them on those grounds 😉

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By: jamesz http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38871 Wed, 11 Jul 2012 23:49:16 +0000 http://www.tvhe.co.nz/?p=7185#comment-38871 In reply to Matt Nolan.

Sure, but you’re going a lot further than that. For example, you implicitly assume that interventions are based on time inconsistency arguments and are otherwise invalid. I’m sure the first of those isn’t true and many people would question the second.

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By: Matt Nolan http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38869 Wed, 11 Jul 2012 23:23:00 +0000 http://www.tvhe.co.nz/?p=7185#comment-38869 In reply to Matt Nolan.

That makes sense to me – if we are offering a costless commitment device and it isn’t taken up, time inconsistency doesn’t hold water.

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By: jamesz http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38868 Wed, 11 Jul 2012 23:00:43 +0000 http://www.tvhe.co.nz/?p=7185#comment-38868 In reply to Matt Nolan.

if we offer this pill and no-one uses it, then this reveals that the time inconsistency justification we’ve used for our paternalistic policies does not hold any water – suggesting that all these government regulations to control our consumption of alcohol are actually just harmful to the individual.

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By: Matt Nolan http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38867 Wed, 11 Jul 2012 22:52:59 +0000 http://www.tvhe.co.nz/?p=7185#comment-38867 In reply to Eric Crampton.

Tbh, I prefer my mechanisms for commitment in any case:

http://www.tvhe.co.nz/2009/08/11/internalities-mechanisms-and-booze/

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By: Matt Nolan http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38866 Wed, 11 Jul 2012 22:51:14 +0000 http://www.tvhe.co.nz/?p=7185#comment-38866 In reply to Matt Nolan.

Ahh I see – that probably was libertarian moralising, as I was running low on space and wanted to say something punchy.

I can’t see the article atm – what did I say?

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By: jamesz http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38865 Wed, 11 Jul 2012 22:49:27 +0000 http://www.tvhe.co.nz/?p=7185#comment-38865 In reply to Matt Nolan.

Sorry, I mean the final sentence of your Idealog article. 

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By: Eric Crampton http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38864 Wed, 11 Jul 2012 22:33:51 +0000 http://www.tvhe.co.nz/?p=7185#comment-38864 Oh, do note that that anti-alcohol pill is now contra-indicated most of the time. Fair few side effects. They’ll come up with something else though.

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By: Matt Nolan http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38863 Wed, 11 Jul 2012 22:28:59 +0000 http://www.tvhe.co.nz/?p=7185#comment-38863 In reply to Matt Nolan.

“Your last sentence clearly implies a libertarian view of social welfare.”

Isn’t my last sentence “This is appropriate no matter where I am on the political spectrum” …

If it is the middle sentence then I disagree.  Paternalistic interventions have to be justified in a way where the benefits of intervention exceed the costs – that is a practical analytical statement, not a political one as I am not working on quantifying or classifying what the costs and benefits are!

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By: jamesz http://www.tvhe.co.nz/2012/07/12/careful-with-regulation/#comment-38861 Wed, 11 Jul 2012 22:17:18 +0000 http://www.tvhe.co.nz/?p=7185#comment-38861 In reply to agnitio.

Link still works for me. Oddly, I sent the TVHE address to someone yesterday and they said they couldn’t access the site.

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