externalities

I think he means they're good at regulating problems that affect them directly but they're bad at/don't care about regulating externalities.

Another is externalities like traffic, which aren't about licensing for safety but more about regulating for other impacts.

People in general are very happy to pay for things that have huge externalities not directly affecting them.

Seriously, you could apply this to any hobby if you want to use an endless list of externalities.

That economic analysis is flawed because you're ignoring the externalities of burning gasoline (health costs, climate change).

Ie even with all externalities internalized via taxes, it might still beat humans.

It's easy to complain about overregulation when the government tells you you can't do whatever you want and dump externalities on everyone around you.

I didn't downvote you but I really don't think it's hard to measure and account for the externalities in fossil fuels.

Airbnb's model, on the other hand, is rife with negative externalities.

Also, given the extreme simplicity and reliability of electric motors, such an infrastructure would save huge amounts of money and also avoid externalities like atmospheric pollution.

So if you want to measure social impact I would also include the positive externalities of various jobs including working in technology.

I have not heard anybody raise compelling objections to Uber's model based on objective harm to consumers or market non-participants (negative externalities).

"I have not heard anybody raise compelling objections to Uber's model based on objective harm to consumers or market non-participants (negative externalities)." Then you have not been listening.

It is the bias he says he would most like to eliminate if he had a magic wand." It's useful to be able to psych yourself up when you know that you could use a little extra confidence, and costs and externalities are low.

Externalities should be priced in economics.