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Private companies have profit incentives. If a horrible substance comes to market they can be paid off to endorse it. You can argue that no rational company t
by Scirra_Tom 10y ago
Private companies have profit incentives. If a horrible substance comes to market they can be paid off to endorse it.
You can argue that no rational company that cares about its reputation would do such a thing, but history has shown time and time again - yes corporations do waive all consideration for public safety in lieu for money.
The government is the perfect institution to endorse safety of substances/drugs/whatever for use by it's citizens. That doesn't mean they are perfect though, but I would trust them a thousand times more than a corporation.
It's extremely wreckless to apply free market economic theories to things like this. In the real world, consumers and businesses are irrational.
- ams6110 10y agoBecause government officials are never paid off?
- smallnamespace 10y agoNo, because government officials are paid off much less often because it's harder. Outright bribery in the US is rare, difficult, and if caught, will land you in federal prison for a long time. Remember Blagojevich? Government officials are under much more scrutiny than a private sector executive. There are independent investigators general that have broad latitude to look for malfeasance. The FOIA exists to bring government records to light; there is no equivalent in the private sector. Heck, we spent ~$80mm investigating Clinton over the Lewinsky affair. The government isn't perfect, but it's a damn sight more transparent and directly accountable to the public than private companies are.