Re:Alabama farmer sues John Deere for ‘right to repair’
by hiptobecubic on Sunday January 23, 2022 @11:36PM
(#30053796)
If you swap out "regulations" with "financial instruments" your first comment makes a lot more sense.
Re:Alabama farmer sues John Deere for ‘right to repair’
by mannykannot on Sunday January 23, 2022 @11:58PM
(#30053886)
One problem is, "you mess up, you fail", is not a sufficiently effective feedback mechanism - at least since the debtors' prisons were closed, but even they were not effective, either. One problem is that, even under this doctrine, the risk to the individual instigator is not commensurate with the totality of the damage done. Another is that the feedback comes too late, and delayed feedback results in instability.
One can argue that public agencies created bad incentives with regulations that mandated ratings agencies' assessments, and then shielded various parties from any accountability by bailing them out, thus removing the main feedback loop of the system (ie: you mess up, you fail).