I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake, which is that deregulation works fine in industries which do not pervade the economy. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit.
Richard PosnerAs a social good, I think privacy is greatly overrated because privacy basically means concealment. People conceal things in order to fool other people about them. They want to appear healthier than they are, smarter, more honest and so forth.
Richard PosnerFact is often stranger than fiction because most writers of fiction try to make their stories plausible.
Richard PosnerThe confidentiality of the judicial process would not matter greatly to an understanding and evaluation of the legal system if the consequences of judicial behavior could be readily determined. If you can determine the ripeness of a cantaloupe by squeezing or smelling it, you don't have to worry about the produce clerk's mental processes.
Richard PosnerIf belief in the existence of God is predicted to lead to a feeling of contentment, and the prediction is fulfilled, does it follow that God exists? Surely not. All that would follow would be the desireability of the belief.
Richard PosnerThe Constitution has to be interpreted loosely, otherwise it becomes a straitjacket. You can't interpret it literally. You can pretend to, and go digging around in 18th Century dictionaries to figure out what 'cruel and unusual punishment' meant or what the 'right to bear arms' meant, but that is all fake really. The Constitution has to be interpreted in light of modern needs, and that's what they (the strict interpreters) end up doing in spite of all their investigations.
Richard Posner