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I think lemon markets have strong spillover effects. Bad actors don’t just drive out good actors. They pursue them. New car buying sucks because used cars are a lemon market. Healthcare sucks because alt-medicine quackery next door is a lemon market. What other examples?
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Fine, fine, healthcare is probably a bad example. Or at least a more complicated one in the interaction between alt-medicine and medicine.
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Politics is an obvious one, I'm surprised no-one has mentioned it. Pandering for votes is driven by the shittiest candidates, and forces the least awful to compete in that arena.
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