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A comment on Unsolved problems in economics. Parent comment
If you don’t care about getting it right, fine. Ask politicians to do whatever they want on the basis of whatever biases they have.
If you want to get it right, then you need to weigh the costs and benefits of different regulatory policies. That requires theory and data.
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If you don’t care about getting it right, fine. Ask politicians to do whatever they want on the basis of whatever biases they have.
If you want to get it right, then you need to weigh the costs and benefits of different regulatory policies. That requires theory and data.