tag:blogger.com,1999:blog-1377392670200997406.post8251071276683140956..comments2023-10-21T20:56:07.875-07:00Comments on Random Financial Thoughts: What Does It Mean to Create a Job?ESMhttp://www.blogger.com/profile/05205329836679086994noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1377392670200997406.post-61348528172065613882009-06-10T19:00:03.979-07:002009-06-10T19:00:03.979-07:00DAB:
I agree with your sentiment, but not every g...DAB:<br /><br />I agree with your sentiment, but not every government regulation is dead weight, and not every job created by regulation has the mandate to "work around" the regulation. Some regulation is needed in every industry. Whether it needs to be imposed by the government is another question. I think that non-government regulation is often referred to as a "standard" or a "certification." And of course you do need a mechanism to address externalities. People are need to monitor these standards and mechanisms and regulations and find the best way for their companies and businesses to comply. I would claim that many of those people are gainfully employed and producing something of value.<br /><br />I'm being a little pedantic here, since I wholeheartedly share your opinion of the vast majority of government regulation, especially the stuff that is coming down the pike.<br /><br />ESMESMhttps://www.blogger.com/profile/05205329836679086994noreply@blogger.comtag:blogger.com,1999:blog-1377392670200997406.post-67491014471871168522009-05-26T06:52:20.344-07:002009-05-26T06:52:20.344-07:00In a sane world, no definition of "producing value...In a sane world, no definition of "producing value" should include the dubious "value" of working around dead weight government regulations. Under your definitions (either of them), the government could declare that as part of its "Green Initiative" it requires all employees to wear green face paint while at work, while removing that face paint before leaving work. This would create a number of jobs for those who would test the paint for safety, manufacture the paint, and possibly apply and then remove the paint each day as employees arrive and leave.<br /><br />For a free people to accept such regulations in the first place (let alone call for them) is, for me, the greatest outrage.<br /><br />Such will be the case with Cap and Trade, which is no different in principal than my face-painting scenario (dead weight, serving no useful purpose, and reduces quality of life), except that its costs will be far larger, and its impact on our quality of life far more terrible.<br /><br /> -- DABAnonymousnoreply@blogger.com