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A Simple Lesson of Policy Diversity from “The Black Swan” Author: Don’t Put All Your Financial Eggs in One Regulatory Basket

Daddio7 Wrote: Nov 24, 2012 8:07 AM

How about you go to Wisconsin and campaign to end milk subsidies? Go to California and shut off the water to the San Joaquin valley. End everyone's subsidies. Milk, oil, grain, wind, solar, babies, housing, collage, mass transit, all of them.

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A Simple Lesson of Policy Diversity from “The Black Swan” Author: Don’t Put All Your Financial Eggs in One Regulatory Basket

Several months ago, I wrote a rather wonky post explaining that the western world became rich in large part because of jurisdictional competition. Citing historians, philosophers, economists, and other great thinkers, I explained that the rivalry made possible by decentralization and diversity played a big role in both economic and political liberalization.

In other words, it’s not just a matter of tax competition and tax havens (though you know how

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