I’m saying that dropping something simple, reliable, and well-understood, but not mathematically infallible (like natural law), into an economic system containing billions of humans-as-we-know-them is like dropping wounded livestock into shark-infested waters. Every attempt at corruption successfully repelled makes people more confident in it, and therefore increases the potential rewards for a successful attempt; the existence of irrationally overconfident people means that attempts will continue, and greater rewards mean those attempts will be backed by commensurately greater resources.
I’m saying that dropping something simple, reliable, and well-understood, but not mathematically infallible (like natural law), into an economic system containing billions of humans-as-we-know-them is like dropping wounded livestock into shark-infested waters. Every attempt at corruption successfully repelled makes people more confident in it, and therefore increases the potential rewards for a successful attempt; the existence of irrationally overconfident people means that attempts will continue, and greater rewards mean those attempts will be backed by commensurately greater resources.
I understand now :) Do you think you can say the same thing about the regulators of our current economic system?
I could, but why bother? Others have said it better.
http://en.wikipedia.org/wiki/Regulatory_capture
Thank you for taking the time to change my mind good sir.
You’re quite welcome. Thank you for going along willingly, rather than needing to be dragged!