These assumptions are now being widely questioned as the threat of weapons of mass destruction in the hands of suicide terrorists becomes more realistic and as our ability to deter such harms by classical rational cost-benefit threats and promises becomes less realistic.

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It is not that they are incapable of making "rational" cost-benefit calculations, by their own lights.

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"The industry should benefit from more rational underwriting and pricing, " it said.

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Yet speech codes persist in large part because university general counsels, often far more worried about the expense and bad press of a harassment lawsuit than the comparatively rare and inexpensive free speech lawsuit, have deemed it rational from a cost-benefit standpoint to censor.

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In fact, there are cogent arguments to be made that the level of U.S. corporate taxes is now uncompetitive across all of our industries, relative to most other developed or developing countries, and that our lack of a rational immigration policy is hastening the departure of talent from the U.S. to the benefit of our economic competitors.

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