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new blog and web site

June 10, 2010

Dear Readers,

Thank you for reading my blog. I am in the process of turning this blog into a group format in which others interested in regulation and its reform can also contribute more easily. As a result, we have created a new blog, entitled theParetoCommons. The name combines the economic concept of Pareto Efficiency, which refers to a situation in which it is impossible to make one person better off without making someone else worse off, and the Tragedy of the Commons, a term coined in 1968 by Garrett Hardin and referring to the (very common) situation in which common interests are neglected when no one has a direct personal incentive to protect them, even though we all depend on those commons. This concept–“theParetoCommons”–captures, I hope, the ideal goal of good regulation, in which common welfare is optimized without hurting legitimate interests.

Please join me at the new blog, and thank you for your interest.

Lawrence Baxter

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