a lot of US policy in particular seems to fall into the “worst of both worlds” camp
Could you give other examples? I certainly accept health insurance and this particular fire department, but I don’t think it is a representative fire department. Is the common theme the word “insurance”?
“Too big to fail” banks: they profit when their gambles pay off, we bail them out when they don’t. Also arguably telecommunications carriers that have quasi-natural quasi-monopolies.
I’d go along with both of those examples (though the US has a history of corporate bailouts that extends far beyond current events). Also rent control (it has significant perverse effects on rental markets and often hurts the poor).
That’s not to say other countries don’t have their problems, I don’t think the US is a uniquely bad policy maker, but there is something about the way the US government makes policy that seems to want to have its cake and eat it too. When they try that it usually doesn’t end well.
Could you give other examples? I certainly accept health insurance and this particular fire department, but I don’t think it is a representative fire department. Is the common theme the word “insurance”?
“Too big to fail” banks: they profit when their gambles pay off, we bail them out when they don’t. Also arguably telecommunications carriers that have quasi-natural quasi-monopolies.
I’d go along with both of those examples (though the US has a history of corporate bailouts that extends far beyond current events). Also rent control (it has significant perverse effects on rental markets and often hurts the poor).
That’s not to say other countries don’t have their problems, I don’t think the US is a uniquely bad policy maker, but there is something about the way the US government makes policy that seems to want to have its cake and eat it too. When they try that it usually doesn’t end well.