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This is directionally correct and is a known result in the political economy literature. Analogous techniques have been used in a range of contexts to overcome collective action problems. There is more detail in e.g. this book and my general overview here:

Many individuals are not subject to the same tight resource constraints of the NHS, so I don’t understand why we wouldn’t expect a fraction of individuals to be willing to deploy their own resources to pay for a booster? The efficient frontier for them is simply different.

This is a fascinating piece. I would be keen to read more on various aspects and see what research could be carried out. If the GDP impact estimates are correct, crime might cause even more loss of welfare in the US than is caused by housing shortages.

Thank you for your comment. I agree we could have said ‘many efforts to improve policy in the last 50 years have succeeded’. However, given our substantive analysis of the Bill, I think we would have ended up with the same concerns about its potential outcomes. In view of the impression that some people who do not work in policy or government seem to have that attempts to improve policy generally or always move things in the intended direction, we thought it helpful to highlight the risk of unintended consequences. The alternative formulation would not have made that point as clearly.

I can’t speak for the Twitter author you mention but I think our comment about quangos was primarily intended to add a minor element of humour to lighten a very long piece. I apologize if that was a poor choice on our part. Quangos were extensively joked about in the old UK television series and book Yes Minister.

My personal view about the quango (the Commission) suggested in the Bill is that without substantial revision it risks doing net damage. I certainly agree that some forms of quango may be useful, although I think it is often difficult to design them to ensure that the benefits exceed the costs. It would be great if the next quango proposed generates much greater consensus that the proposal is likely to be net beneficial.

I think it is likely that even if you and I can't come up with improvements (although I suspect we can), a broader number of people getting involved could improve on the core ideas – looking forward to working on it together!

Thank you Nathan - this is extremely interesting. 

I have an open mind on that. I think it’s an empirical question and it depends partly on how it is done. I could envisage many circumstances where a mechanism allowing someone purportedly to speak for future generations could in fact harm those future generations.

Thank you, I think that’s very constructive.

Where I would slightly disagree is that I don’t agree that every mechanism to give future generations’ interests more of a voice need necessarily result in more costs or red tape for any change. It may be possible to construct mechanisms that give them more of a voice for positive change. (The analogy here would be street votes.) We could see the “three lines of defence” proposals as an example of that. I think it would be good to see if we can find more of those mechanisms.

Thank you Haydn. I agree about the base rate for PMBs. They can get attention from the Government –in particular as I think you know this one was designed by us to be acceptable to the Government, and the Secretary of State said that it was ‘cracking’ and that he was keen to ‘steal all of the ideas in it’.

So I recognize that general campaigning is also a valid use of PMBs in general.

As you know I’m very keen to work collaboratively on possible approaches to getting more longtermist perspectives in government.

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