In a recent Economist article, there was a brief mention about the cost of compliance with the new credit card regulation (something like $500 million for one of the banks). A lot of the regulation was (supposedly) aimed at making it more difficult for companies to take advantage of inattentive or self-control-lacking consumers.

I wonder if anyone would make the argument that this legislation is harmful because it decreases the benefits of education. Think about it: if we allow ignorance to be taken advantage of, there will be less ignorance in the world. The benefit of education will rise, leading to an increase in demand!

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