Say more? As in, this waste is driven by politics? Or, effectively-mandatory participation in politics is an example? (Both seem true) Or…
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I would add on to this: highly competitive industries focus on the user experience, highly regulated industries focus on user compliance
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actually wondering out loud now the parallels with taxation; namely, when you tax a company or product there's always the question of *who* the tax is incident on
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the company itself never actually "pays" taxes in this sense, they are borne by the groups that meet to form that company: customers, employees, and shareholders, and the level of incidence (which party bears how much) is determined by elasticity
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the shareholders are almost always the most inelastic, and so rarely shoulder the burden. the fight then comes down to who is more inelastic: customers, or employees?
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if regulatory burden can be modeled as such (perhaps tax burden is just a specific example of the more abstract regulatory burden/incidence/elasticity model), then you end up with a basic dichotomy: heavily regulated firms end up placing the burden mostly on customers
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because the regulation itself makes the # of firms scarce and thus the customer relationship extremely inelastic compared to the employee relationship (at an extreme ask yourself when filing taxes who has a better ability to walk away: you, or an IRS employee)
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healthcare is another example: you, the customer, have to get healthcare. but most of the employees that work at healthcare companies have skill sets that could take them elsewhere, thus the customer again ends up bearing most of the burden
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Another way of modeling this: regulatory capture allows industries to semi-merge with the state and thereby coopt its unaccountable coercive power. Maybe an upgraded democracy could make regulators accountable:https://meaningness.com/metablog/virtue-court …
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