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Daron Acemoglu on Shared Prosperity and Good Jobs

EconTalk

Is There a Guarantee That the Market Will Ride Without Any Government?

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i'm a big optimist about democracy. I think the problem we have is we don't have enough of it. Part of this problem, now we're going to the next layer, we haven't reached our point of agreement. The argument is that government regulation, often driven by a complex of vote getting incentives, puts constraints and creates guard rails,. That that helps the process. And i think the best example of that, actually, is the nordic model. Anybody who goes and studies it will see the lots of things wrong with the mordic models. There were inefficiencies, but it's also remarkable how well many aspects of the system worked.

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