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| Re: Amtrak Derailment in Washington (1459051) | |||
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Re: Amtrak Derailment in Washington |
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Posted by Steamdriven on Tue Dec 19 20:48:15 2017, in response to Re: Amtrak Derailment in Washington, posted by JayZeeBMT on Tue Dec 19 15:22:06 2017. A certain amount of regulation is necessary for a free market to function, and a bit more is necessary for daily life to be manageable. One can look up "swill milk" and "Elixir Sulfanilimide (sp?)" as examples of what can happen with zero regulation.But that's not a knock on the free market; Adam Smith made it clear that both a legal and moral framework was necessary for his idea to work. A functioning free market is good for consumers and tough for producers who must compete against each other. Thus, they quickly attempt to form monopolies or cartels, e.g. OPEC. OPEC of course is not bound by US law, and can openly conspire to raise prices and limit production; that's the purpose of OPEC's existence. They're anti-free market, and there's nothing we can do about it. An excess of regulation can be used to promote large, established business and quietly freeze out competition; just make the regs onerous enough that one needs an entire department to manage the regulatory aspect of the biz (that's HR) and perhaps campaign contributions so that your HugeCo will have an ear in GovCo when some agency targets it. How is your self-started 100 person biz going to deal with that? You can't, and thus you'll never grow large enough to replace the flip-off service and indifferent quality provided by ChummyWithGovCo (which might be spelled Comcast ;-). That's corporatism, which is something we've been creeping towards for several decades. So, no regulation ---> free market replaced by multi-corp cartel Regulatory Runaway ---> free market replaced by gov/biz cartel |
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