Comment by sophrosyne42

3 months ago

Profit-seeking incentivizes safety and makes any cartel situation inherently unstable.

Regulations, on the other hand, allow stable equilibria featuring cartels.

8 comments

sophrosyne42

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ndsipa_pomu  3 months ago

There's plenty of examples where companies have explicitly put profit ahead of safety (e.g. Ford Pinto).

miltonlost  3 months ago

> Profit-seeking incentivizes safety and makes any cartel situation inherently unstable

Do you have ANY knowledge of economic history? Profit-seekers putting $1 into safety equipment rather than their own pocket is a laughable thought.

  • sophrosyne42  3 months ago

    Yes, and a distinct feature are pressure groups funded by corporations drumming up fake issues in order to get regulations passed that remove the competitors to those corporations.

    The sidelining of tort law also didn't help one bit.

    • johnnyanmac  3 months ago

      So we're going to ignore the pressure groups who are deregulating in real time to tear down regulations that also remove competitors to those corporations? Or is it okay to be anti-competitive when it helps you get paid?

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