On Tuesday, February 6, 2018 at 5:07:22 PM UTC-5, John Cochrane wrote:
John's academic work is all about how poorly crafted regulations give bad incentives. Regulation isn't about "more" or "less" it's about "smart" vs. "dumb", the latter often giving bad incentives.
John

John can't answer the well posed questions from others on whether his soaring regulations will be "smart" or "dumb" in practice. After some experience John will decide what is "smart" and "dumb" and then propose "more" and "better" regulations. Soon John will be the only one who understands the differential equations and SPSS runs required to interpret the "more" and "better" regulations. John will help the highest bidder of ClearNav or LX Nav program their CN3000 or LX 1,000,000. John will get rich. Hmm... this sounds like the kind of money the ACA "interpreters" are making that John so despises.