Comment by pdonis

> a "free market" where "unencumbered" by regulation there wasn't even proper investigation or disclosure.

Straw man. As I pointed out in another post upthread, in a free market, nobody would fly on Boeing aircraft (or anyone's aircraft) if they did not have a well documented and attested safety record, and independent parties would be in the business of documenting and attesting to such things. And since those independent parties would not be able to get the free pass the government gets to skimp on regulations as they did with Boeing, they would have to build and maintain a track record of accuracy.

The only reason people don't seek out such information independently now is that they believe the government has their back so they don't need to. Which, of course, is an unjustified belief.

> you seem to be approaching this with the a priori assumption that whatever the free market would arrive at is the correct result.

I have made no such assumption. There is no single "correct result", and people like me who favor free markets don't do so because we think they can produce any such thing. We favor free markets not because we think they are perfect, but because the alternatives are even worse.

The history of government regulation bears this out. Sure, when everything is going nicely, regulation looks good, and it's easy to talk about how a "free market" (which actually just means "if this particular regulation were to suddenly go away without anything else changing", which is a straw man) would be worse.

But the failure modes of government regulation are worse than those of a free market. The failure mode of a free market is that transactions that could create value don't happen--people don't fly because they can't get reliable information about aircraft safety, for example, so airlines go out of business and a lot of potentially valuable things can't happen because they would need air travel as an enabler. The failure mode of government regulation, as we've seen, is that people are killed out of the blue because the government they thought was protecting them, wasn't.