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. Can one act “as if” there were free will?
  3. Stephen Walt on blogging
  4. The hyper-rise of hyper-rationalism
  5. CBOoya

February 8, 2010 · Filed Under Free choice, Jake

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