Doc Edward Morbius ⭕That quote above reflects a realisation I've come to myself that a major function of government is in addressing risks which cannot be meaningfully and/or effectively addressed by private enterprise, or by smaller governmental units. See today's related news that the Orange Turd has refused Federal disaster relief status to a state hit by recent storms: Fucking Arkansas of all places. That is one HELLA RED state:
https://lite.cnn.com/2025/04/23/weather/trump-denied-disaster-aid-arkansas-tornadoes/index.html
That risk bit ties in to my (yes, still-in-process) #tootstorm on orthodox economic failings. I'd add a few other roles:
Coordination problems. A/K/A political decisionmaking. How do disparate interests come to agreement or bypass agreement entirely in allowing Shit To Get Done?
Public goods. The provision of goods for which market-based prices intrinsically fall below cost of provisioning. Roads, lighthouses, education, healthcare / sanitation / public health, welfare services, weather prediction, census, postal service, in some cases telecoms both wired and broadcast.
Risk, as noted above. Incidentally, I'd put national defence and general social safety net in this camp, along with national disaster relief.
Probably some others though I'm having trouble articulating / thinking of these. Regulation, courts, standardisation (look up Herbert Hoover's role here as Secretary of Commerce and the Bureau of Weights and Measures), long-term research funding.
But risk is a huge part of it.
#EzraKlein #risk #government #GovernmentAsRiskManagement #podcasts
