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 Originally Posted by CoccoBill
I agree with pretty much everything you say, the problems of regulation are obvious. My point is, and has been all along, that I find it hard to be convinced that the alternative you propose can work any better as long as its whole premise is based on rational choice theory, which I find flawed. Voting, for example, is a market activity, and people are disastrous with their choices. People act rationally in the economic sense as much as they only do +EV choices in poker.
https://msu.edu/course/aec/810/bond-rat.htm
I think maybe yours (and rilla's) problem is that you're not interpreting rational choice theory correctly. Or maybe I'm not. My view of capitalism is that when people make their own decisions they are doing so based on subjective value. I don't believe anyone has a right to apply value judgments to the decisions of others as long as those decisions aren't hurting anyone. And how can you assess the correctness of another's choice without being aware of their value system which is entirely different from yours?
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