Economics and law

RideLust makes a great observation (within a larger article summarizing the extensive evidence that red-light cameras don’t work):

Under our current democratic government, good laws (laws that benefit everyone) are a “public good” (their “producers” don’t receive enough of their value to make it worth the effort) and thus are under-provided; while bad laws (laws that benefit special interests at the expense of everyone else) are a “private good” (their “producers” receive most of their value) and thus over-provided.

(Via Bruce Schneier, via Instapundit.)

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