I don't dispute that the "free market" has made good strides in the world economy. OTOH I could also mention that prior to highway safety regulations, cars were essentially high speed death traps if one ever actually got into an accident. Up until that point many car makers (including Toyota) were perfectly happy to build patently unsafe vehicles or to invest minimally in upgrades safety features (seatbelts?)
There's also a case to be made that the consequences of car makers making unsafe vehicles (due to regulation) are greater than the costs involved in making safer cars (without regulation.) While in libertarian world, aggrieved car owners who had their children's head sheared off would band together in some sort of merry Robin Hood-esque band of Justice Avengers!(tm) The reality is that any corporation (with revenue in the millions or billions) would likely crush 95% of litigation from the Merry Band of Men.
Yes, regulation like the FDA, Labor Laws, 40 hour work weeks, overtime pay, minimum wages all benefit big business. No more slave labor!!!
Credits & Style Info
Talk Politics. A place to discuss politics without egomaniacal mods
![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png){kind=small}
(no subject)
Date: 19/7/11 21:02 (UTC)There's also a case to be made that the consequences of car makers making unsafe vehicles (due to regulation) are greater than the costs involved in making safer cars (without regulation.) While in libertarian world, aggrieved car owners who had their children's head sheared off would band together in some sort of merry Robin Hood-esque band of Justice Avengers!(tm) The reality is that any corporation (with revenue in the millions or billions) would likely crush 95% of litigation from the Merry Band of Men.
Yes, regulation like the FDA, Labor Laws, 40 hour work weeks, overtime pay, minimum wages all benefit big business. No more slave labor!!!