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Nanny State - Is it a necessary evil?
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For more on marking an answer as the "Best Answer", please visit our FAQ.I think I have said this elsewhere but I'll say it again in this context: "nanny state" (an expression I don't like because it is misleading) would be unnecessary if we had perfect knowledge, or at least equal knowledge to the other party, in all circumstances. Instead, whenever we have to make a decision to do with pensions/ investments/employment, but also medicine/ education/local government (the list is endless) most of the time we are in a position of poor knowledge, pitted against someone (pensions salesmen and all the rest of it) who has near perfect knowledge or much better knowledge than us. Because of this I would prefer more, not less regulation. I'll give a simple example: when you are buying a house, it is always "buyer beware". The vendor knows everything (like the dry rot in the back room and all that) and will make it as difficult as he can for you to find out. It is not an equal match. Therefore, laws and regulations remedy this "unequal knowledge" distortion in the market. However paradoxical this may seem, laws and regulations do not distort the market. Au contraire, they help to bring it about.
Indeed ianess. I'd rather live in a nanny state than a police state. No Ronald McDonald on the tv in the afternoon or "what to do in an emergency" leaflets through the post? Fine and in the recycle bin respectively. Possible long term incarceration without trial potentially for a case of mistaken identity? Not acceptable. In fact, not even acceptable in a case where the correct person is arrested. Do I buy this salty food? Probably best not to 'cos I'll just need a fattening cola to quench the resulting thirst.
Both are important and relevant issues today. One is easily solved by educating the masses with rubbish slug ads and the like. The other is almost impossible to painlessly remove once it has a hold. I know which one worries me more.
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