IMPORTANT QUESTION: How do you craft occupational regulations that allow Jonas Salk to test his polio vaccine but prohibit John Romulus Brinkley from implanting goat testicles into gullible members of his radio audience? “Occupational regulations are supposed to protect the public from unscrupulous or incompetent practitioners, but almost any regulations devised will exhibit one or both of the following: (1) allowing some harmful practices to proceed apace, and (2) prohibiting some beneficial practices. The only way to eradicate the first failing is to prohibit everything. The only way to eradicate the second failing is to prohibit nothing. Therefore, crafting regulations requires policymakers to consider the tradeoffs between these two failings and to plant their flag at some sweet spot that is, at least in part, subjectively determined.”
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