Consumer competence

Gary Becker, famous U. Chicago economics professor, and Richard Posner, famous U. Chicago “law and economics” professor and federal appellate judge, discuss the proposed Consumer Financial Protection Agency.  The agency is to protect consumers from misrepresentation (and bad personal judgment) when it comes to financial products (e.g. sub-prime mortgages).  Their lucid discussion is especially interesting as an example of how economists and “law and economics” scholars think about policy questions.

-Jake

 

Related posts:

  1. Should government protect consumer safety?
  2. Stephen Walt on blogging
  3. The hyper-rise of hyper-rationalism
  4. GDP as welfare
  5. Morality, meet the financial crisis

February 8, 2010 · Filed Under Free choice, Jake

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  • Editors

    Jacob Bronsther is a law student at NYU, a former Fulbright Scholar to Mauritius, and a graduate of Cornell University. He has an MPhil in Political Theory from the University of Oxford.

  • Sam Gill is a consultant in Washington and a graduate of the University of Chicago. He studied Political Theory at Oxford as a Rhodes Scholar.

  • Marc Grinberg is a Presidential Management Fellow with the U.S. government and a graduate of Princeton University. He earned an MPhil in Political Theory from the University of Oxford.

  • John Rood is the founder of Next Step Test Preparation and a graduate of Michigan State University. He has an AM in Political Theory from the University of Chicago.

  • Luke Freedman is a student at Carleton College, pursuing a double major in Philosophy and Political Science.


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