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Barack Obama  |
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Rob Kailey is a working schmuck with no ties or affiliations to any governmental or political organizations, save those of sympathy.
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Tue Feb 09, 2010 at 16:25:05 PM MST
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| One of the more helpful but underutilized concepts to come out of economics is the theory of the second best -- namely that the conditions necessary for optimal outcomes are often impossible, but we should not necessarily rely on near-optimal conditions to produce near-optimal outcomes.
I think that basic idea would be instructive in this debate between Ezra Klein and one of his commenters regarding the importance (or non-importance) of focusing on impossible-but-theoretically-perfect policy solutions or possible-but-imperfect ideas.
Political science already has some (at least implicit) corollaries to the theory of the second best, many of which feature in the Federalist discussions about the need for countervailing powers and the ability of factions to be empowered to fight each other. But this is a different set of problems.
$.02 from my nerd brain this afternoon. |
| Matt Singer :: The Theory of the Second Best |
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