Regulatory capture is a situation in which the companies or the industry being regulated takeover of their own set of rules and the enforcer of those rules. It is a bad situation because the company is then right rules to make it hard for new competitors to get started in their industry.
If we abolished the patent system, anyone anywhere could compete in the production of any good or service. This would lead to no shortages of anything, the lowest possible prices, and a much better quality of life for everyone.
Griffin likes to climb everything now. Unfortunately he is not very coordinated or balanced, and is always at risk of toppling over. He doesn’t understand how to fall safely yet either so he would bonk his head with each fall. We have to watch him like a hawk now!
Laurel and I watched the science fiction movie The Platform last night. We were both very entertained. It’s basically a movie of a man in a prison where a platform of food starts at the top level and slowly goes downward. The people at the bottom level get no food because the people at the top eat it all.… read more “The platform is a great movie”