The Taboo Trade-Offs of Tracking
by Bryan Caplan
EconLog
March 2, 2015

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Every system - the status quo included - strikes a balance between Overlooked Potential and Wasted Resources. But almost no one explicitly argues that what we currently do strikes the optimal balance. Why not? Probably because accepting Overlooked Potential for the greater good is, in Philip Tetlock's phrase, a taboo trade-off. Saying, "Sure, I don't like overlooking potential; but I'm even more opposed to wasting resources" sounds terrible - no matter how trivial the Overlooked Potential and how massive the Wasted Resources.

How do Americans cope with their silly scruples? They salve their consciences by pretending that the problem of Overlooked Potential only emerges if tracking extends or expands. This preserves a modicum of common sense; at least we won't abandon tracking altogether. But if tracking is currently underused, Americans' taboo trade-off blockades any further progress. Is it possible that more robust tracking might deprive someone somewhere of a valuable opportunity? Uh... yes; it is a big world. Then robust tracking gets vetoed, regardless of its upside.

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