3 ms·
How is this “unfettered?” FDA does quite a bit of “fettering.” That the regulation failed isn’t a failure of free markets, if anything, it’s a failure of regula
by briandear 8y ago
How is this “unfettered?” FDA does quite a bit of “fettering.” That the regulation failed isn’t a failure of free markets, if anything, it’s a failure of regulation. If you are going to regulate and the regulations didn’t work, yet the companies complied with said regulation, do you blame the company or the government?
Plenty of nasty products from the Soviet planned economy only there, you wouldn’t have the benefit of competitors or alternatives for the public — assuming you could even good goods at all. People that complain about capitalism have never lived under the alternative.
- fzeroracer 8y agoThis is the very definition of whataboutism. And the clear answer is to blame both. Especially when the line between corporation and government is blurred due to lobbying and vested interests.
- ghufran_syed 8y agoYou seem to be conflating "whataboutism" with "responding in a way I don't like". Feel free to share your definition and show how the parent statement meets the definition
- armitron 8y agoRegulation can not work if there is regulatory capture which in practice means that there are no penalties. As long as corporations have no skin in the game and only abide by short-term greed, it's in their best interest to keep finding loopholes and screwing everybody over. How many times has Goldman Sachs been "penalized" for bypassing regulations? Plenty. Have those penalties amounted to anything? Do you see their behavior changing when they practically own the US government?