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Recovering backpacker, Cornwallite at heart, political enthusiast, catalyst, writer, husband, father, community volunteer, unabashedly proud Canadian. Every hyperlink connects to something related directly or thematically to that which is highlighted.

Monday 2 December 2013

Black Friday in Winter

There's a lesson in behavioural economics in here for the financial economists to pay attention to.

For those who aren't well-heeled, the free market isn't about adding value and improving quality; it's about getting more for less.  When the pie is limited, people are triggered to put their own interests first - it's the same in buying towels as it is squeezing onto a subway car.

Regulation doesn't impede creativity, it sets parameters for social engagement.  Yes, rules can be too onerous, but that's why we have a legal framework that empowers trained, authorized people to carry out its enforcement.

When you take away the rules, reduce opportunity and push people to compete, you don't get a race to the top, you get a spiral to the bottom.  Throw guns into the mix and it gets even worse.

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