Arnold Kling Quote

"In a free market, consumer sovereignty and competition tend to create instability when sellers learn to game the system too well... In a technocratic system, it is more difficult for consumers to exercise countervailing power. Innovative competitors are often precluded by regulation. Suppliers tend to apply concentrated lobbying power to protect their interests, while the diffuse interests of the consumer are poorly represented in the political process. ... Centralized, regulated systems look good on paper, and they may be effective as they start. However, market systems learn faster, because competitive innovation prevents a market from getting captured by the incumbents who have learned how to game the system."

by:	Arnold Kling (1954-) American economist, scholar
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Categories:	Free Market, Sovereignty, Competition, Technocracy, Power, Innovation, Regulation, Centralization, Politics
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A string (maybe small twine) weaves its way through the analogy. Fiscal law is what it is. The closer man's administrations address the "law", the more free, sovereignty, innovation and prosperity there will be..  -- Mike, Norwalk      2
-- Jim K, Austin
" Diffused interests of the consumer are Poorly Represented in the political process". round and round we go. Oppression is a sticky business, Barrow and lending practices among citizens, neighbors, and strangers within a nation Declared to be At Liberty, that is the Individual At Liberty. " At the end of Every seven years thou shalt make a Release. and this is the manner of the release: Every creditor that lendeth aught unto his neighbor shall release it; he shall Not Exact it of his neighbor or of his brother; because it is called the Lord's release. Of a foreigner thou mayest exact it again: BUT that which is thine with thy brother thine hand shall release; For the poor shall never cease out of the land: therefore I command thee, saying, Thou shalt open thy hand wide unto thy brother, to thy poor, and to the needy, In Thy Land." There are 13 tenets plus 3, they need not all be stated. The Edge is very sharp, considering this sword of Truth. Sound management of economics based upon these principles, assure property for the least among our children is guarded. and equity among neighbors and strangers supplied. Inheritance is either granted or "plundered". The Quote is weak in nature.  -- Ronw13, Oregon      1
"Centralized, regulated systems look good on paper, and they may be effective as they start. However, market systems learn faster, because competitive innovation prevents a market from getting captured by the incumbents who have learned how to game the system."  -- E Archer, NYC      1

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