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

From: Eric Armstrong (eric.armstrong@eng.sun.com)
Date: Mon Jan 24 2000 - 14:05:40 PST


From: Eric Armstrong <eric.armstrong@eng.sun.com>

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
many
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
*necessary*
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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