Re: [unrev-II] Mike T. & Eric A.

From: Eric Armstrong (
Date: Mon Jan 24 2000 - 14:05:40 PST

From: Eric Armstrong <>

Clark Quinn wrote:

> >The two flaws in the system we have today are:
> > * Policy making too heavily influenced by money interests
> > * Policy making too interested in short term results regardless of
> > long term consequences in order to keep popular favor.
> That's because that's what the system rewards. You want to change it,
> you have to change the reward system.

There is the crux of the issue.

> >Don't get me wrong. I'm in favor of a "free" market. But it's clear
> that a "free"
> >market requires regulation.
> Without open communication AND an educated populace, the vested
> interests can control the situation.

I think that accurately describes the situation as it exists today, in
respects -- but not in all respects. Outlawing the kinds of schemes that
scam artists perpetrate is basically a process of:
   a) Educating a few (police people and law makers)
   b) Legislating to eliminate it

The legislation helps to create an environment in which it is not
for everyone to be educated on the subject. It's not perfect solution,
but it greatly improves the percentages.

We don't need an education population to control vested interests. We
need a system in which legislators are not unduly influenced by same.

Education is extremely important, but it is a low-leverage strategy for
dealing with fundamental flaws in a regulatory system. Real-time
education of a substantial population to keep up with the latest
information in all of the important subject areas -- bunko schemes,
nutritional information, energy systems, and on and on -- is simply too
daunting a task.

The regulatory system needs to leverage the available information. That
happens when information understood by a few works to the benefit of the
many, rather than the inverse.

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