Comment by jaredklewis

> I think it's pretty obvious at this point that these forces are not producing very good outcomes for the population

Just because market failures exist, doesn’t mean a non-market approach will work better. Our markets have a lot of issues, but so do our public policies. For me, the perfect example is land use and housing regulation. With the best of intentions, government policies have made housing costs sky rocket. Meanwhile in places like Tokyo where I used to live, limited zoning laws and straightforward building codes has led to dirt cheap apartments, wonderful, walkable neighborhoods, and clean air. Where I live in California, we’re drowning in parking requirements and environmental reviews. Nothing gets built. Air is dirty, traffic is horrible, and you have to go everywhere by car.

Like you, I’m not at all opposed to government regulation or intervention. But the devil is in the details. Would a government enforced pay cap be better than the current system? I think the only honest answer is we don’t know. We need to be humble when approaching public policy, acknowledging that how we intend our policies to function is often quite different from their actual effects.