[lbo-talk] Why Capitalism Cannot be Tamed

[michael perelman]

A little more than a year ago, I posted a note using football as a 
metaphor for the futility of effective regulation.

http://michaelperelman.wordpress.com/2009/09/13/the-futility-of-financial-regulation-lessons-from-science-and-professional-football/

Some people dismissed the football metaphor.  The Wall Street Journal 
today has a story about how people design new psychotropic drugs to get 
around regulation.  It may be that these new drugs are more dangerous 
than banned drugs.  In all likelihood, they can design these drugs 
faster than the government can make regulations.

How in the world can regulators get ahead of financial industry or tax 
lawyers, even if the lobbyists were not writing the regulations or the 
tax codes.

Whalen, Jeanne. 2010. "In Quest for 'Legal High,' Chemists Outfox Law." 
Wall Street Journal (30 October).
http://online.wsj.com/article/SB10001424052748704763904575550200845267526.html?mod=WSJ_World_LeadStory

-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929

530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com