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Some are more equal than others


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2016 Aug 23, 9:46am   993 views  2 comments

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http://www.ibtimes.com/political-capital/lawmakers-overseeing-wall-street-given-bigger-more-favorable-loans-others-study

Researchers suggest the evidence is no random coincidence: They say the trend may in fact expose a conduit of influence peddling in which powerful lawmakers are using their position to extract favors  and whereby Wall Street firms may be using stealth perks to increase their legislative power. The analysis from London Business School professors Ahmed Tahoun and Florin Vasvari analyzed how the personal finances of congressional lawmakers changed once they were appointed to the Senate Finance Committee, the Senate Banking Committee or the House Financial Services Committee. It also evaluated how their finances compared with other lawmakers who are not on...

#corruption

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1   Patrick   2016 Aug 23, 10:17am  

The problem is pretty much that we have specialist lawmakers who are separate from the people. They will inevitably learn ways to cooperate with the people they are supposed to be regulating for mutual benefit. That's pretty much the definition of corruption.

But if you don't have specialists, they won't understand what they should be doing.

It's really the "agent problem" where lawmakers are managers working for the people: https://en.wikipedia.org/wiki/Principal%E2%80%93agent_problem

What is the most elegant and effective solution?

2   anonymous   2016 Aug 23, 10:28am  

What is the most elegant and effective solution?

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Transparency and Education.

An informed citizenry is required to make the system work. The greatest barrier to get there, from where we are now, is likely nutrition. It's next to impossible to have a population that is so malnurished and supersaturated with misinformation, to properly participate.

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