The Role of Generalists
Russ and Arnold discuss the need for generalists in overseeing complex systems and the limitations of individuals in understanding the bigger picture. They explore the unrealistic expectations placed on regulators and the consequences of relying on an omniscient regulator.In this clip
From this podcast
EconTalk
Arnold Kling on Knowledge, Power, and Unchecked and Unbalanced
Related Questions
Can regulatory agencies be burdened as discussed in the episode Richard Epstein on the Constitution and the clip The Administrative State, as well as in the episode Does Market Failure Justify Government Intervention? (with Michael Munger) and the clip Bureaucracy and Effectiveness? Additionally, how does this relate to the episode Arnold Kling on Reforming Government and Expertise and the clip The Intrusive Administrative State, particularly in relation to the SCOTUS curbing regulatory agencies’ powers and the clip Regulatory Powers Impact?
Can regulatory agencies be burdened as discussed in the episode Richard Epstein on the Constitution and the clip Defects in the Regulatory System? Specifically, how does this relate to the discussions in the episode Arnold Kling on Reforming Government and Expertise and the clip The Intrusive Administrative State, particularly in relation to the SCOTUS curbing regulatory agencies’ powers and the clip Regulatory Powers Impact?