... Current USG position on immigration is literally issuing dillutive stock grants to randoms.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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Because there are no shareholders. More broadly - gov't creates property rights that make the welfare theorems valid
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pretty good answer to my rhetorical q. Aarow's Impossibility Theorem & Holstrom's Theorem both validate what you're saying.
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Arrow's thm, not really; what is Holstrom's?
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that there exists no pareto-efficient voting system that 'balances budget' and has a Nash equilibrium.
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(A thm that can be glossed as "no voting system has a NE" is Gibbard-Satterthwaite, although you can get a stronger result)
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I'll have a look. Been a while since Ive read up on public choice, but various 'plurality' voting schemes def have a NE.
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It's pretty trivial to construct three-way cycles for any voting scheme.
End of conversation
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