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December 02, 2008



Deregulation means removal of existing regulations, and these somewhat vague sounding regulations (in the A.P article, I don't know where the proposal can be found) were only proposed. A.P was engaged in narrative myth-making with their talk about the Bush admin's attitude toward regulation. By a number of reasonable standards regulation increased more under the Bush admin than any President since Ford.

Hopefully Anonymous

yeah the title of the blog post was sloppy but the point was about an unreasonably negatively deviant de-optimized level of regulation. I think your theory is plausible though, because we're now in a sea of explanations for the economic crisis, and "insufficient regulation", "overregulation", "politically correct lending", are all easy targets with preexisting constituencies to blame those factors. Doesn't mean one or more of them shouldn't be correctly be identified as a main causal factor in our current economic situation. But I think it's smart to be wary of narrative myths which have the effect of blaming a target with a preexisting blame constituency.


I think it's possible that the Bush admin was excessively averse to adopting regulations in this specific area, but looking at the number of regulatory employees, money spent by agencies and pages added to the federal register (cost of regulations is also important but difficult to evaluate) it's hard to make the claim that it had some "philosophy" opposed to regulation.

I'm a bit disappointed that Steve Sailer had started backing off the importance of his diversity recession theory (with Tyler Cowen even linking to him as an example of debunking it) only to jump right back on without pointing out any qualifiers or perspective. I think it's worthwhile pointing out how popular easy credit was as we can imagine many of the same forces at work will continue to shape things and possibly cause a recurrence but it shouldn't be reduced to another VDARE "diversity is strength...it's also" article.

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