Friday, August 28, 2020

Reaction times in the Administrative State

One problem with government command and control in democracies is the response time when conditions change. "M]odern governments tend toward the uniform, the rote, the highly technical—and the often wrong and unadaptable." Entrepreneurs in the market system, on the other hand, tend to adapt almost instantaneously to changes when new opportunities appear. Witness the appearance of people selling umbrellas in Manhattan with rain starts to fall or the flurry of research and rush to bring new products to market to combat COVID-19 once freed from regulatory constraints imposed by the FDA and CDC.

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