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The big flaw in the business critique of regulation is not so much that it overstates the costs, but that it understates its benefits -- in particular, the benefits of avoiding low-probability events with disastrous consequences.
Although the strength of Moss's book is its clarity, this binary code is an over-simplification: it understates the massive debt we owe to our forebears.
"It understates true unemployment".
But it understates the reality.
In others, it understates it.
Therefore it understates the likely long-term gains.Some aspects of early estimates exaggerated Doha's potential.
Similar(29)
Richard Luftig called it understated and earthy.
Mr. Luftig called it understated and earthy.
Once, it understated the Nook's weight by an ounce.
Yet, if anything, it understated the severity of the problems.
This Smart, with it understated interior, felt joyfully alive on the highway.
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