Statusful Regulation | Overcoming Bias

One neglected pattern that stands out to me is that many economically-puzzling regulations and policy inclinations tend to make everyone act like high status folks act, regardless of how appropriate that is for their situation.

Consider one-size-fits-all building codes, food and drug regulations, safety rules, professional licensing, and medical insurance regulations. Such rules tend to make sure that a typical rich person wouldn’t accidentally buy a product or service of a much lower quality than they would desire.