Thursday, February 26, 2015

Griffin Snow ~ Chapter 4 ~ Q6

I think it has been most interesting to read about government involvement with the public, especially relating to the specific regulations. Not that the government is being involved, because we already learned about he fact that they were (Circular Flow, etc.), but this chapter is more about the "how." Especially interesting was the section which told about intrusive government principles by Milton Friedman. He argued that the American Bar Association should allow more lawyers to practice law, because it would reduce the total cost. Not every case needed a top-notch lawyer, so by admitting more lawyers who could deal with more simple cases, it would allow a more efficient process for everyone involved. He compared it to having the government require all cars made to be only Cadillacs. "Sometimes" Wheelan says, "there is nothing wrong with allowing people to drive Toyota Corollas."

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