An ode to regulation
People have always been stupid, and everyone is stupid some of the time. (Note: Professor Cipolla’s definition is people whose actions are destructive to themselves and to others.) One of society’s functions is to prevent a tragedy of the commons by building safeguards to protect us from our own stupidity. We usually call this “regulation,” a word Reagan and Thatcher made synonymous with bureaucrats and red tape. Yes, Air Traffic Control delays and the DMV are super annoying, but not crashing into another A-350 on approach to Heathrow, not suffocating as your throat swells from an allergic reaction, and being able to access the funds in your FTX account are all really awesome.
The NHTSA is one of the many boring state and federal agencies critical to a healthy society. Before the Food and Drug Administration, the sale and distribution of food and pharmaceuticals was a free-for-all. The Federal Aviation Administration is the reason your chances of dying in a plane crash are 1 in 3.37 billion. Next time someone tells you they don’t trust government, ask them if they trust cars, food, pain killers, buildings, or airplanes.