In the long run, there will be no substantial change as various control systems adjust, now that we have accepted that life must continue.
… amazing how often an effect like this renders the popular policy-debate-of-the-week completely moot. The fact that people drive safer cars faster comes to mind, as do the effects of rent subsidies given restricted housing supplies.
It’s the same phenomenon as general economic-theory ignorance, which effectively undermines just about all popular policy-debate. If public debate mostly ignores how people could actually respond to a policy after it’s in place, once people are actually strategizing normally instead of cowing down after being bested in mortal political combat, widely championed policies will be completely ineffectual at reaching widely desired outcomes.
… amazing how often an effect like this renders the popular policy-debate-of-the-week completely moot. The fact that people drive safer cars faster comes to mind, as do the effects of rent subsidies given restricted housing supplies.
It’s the same phenomenon as general economic-theory ignorance, which effectively undermines just about all popular policy-debate. If public debate mostly ignores how people could actually respond to a policy after it’s in place, once people are actually strategizing normally instead of cowing down after being bested in
mortalpolitical combat, widely championed policies will be completely ineffectual at reaching widely desired outcomes.