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There are so many underlying threads here: the revolving door between government and industry, the influence of lobbying, lack of competition within critical Am

There are so many underlying threads here: the revolving door between government and industry, the influence of lobbying, lack of competition within critical American industries, deregulation, lack of funding for regulatory agencies. All sums up to regulatory capture. Sickening. Time and time again regular people are getting screwed by the same patters, the previous paragraph basically summarizes what led to the 2008 financial crisis as well.

bartimus 7y ago
In a deregulated world banks wouldn't get bailouts. They would go bust. Governments wouldn't pressure France with import tariffs to protect their aviation industry. In a heavily regulated you still got dieselgate. It got exposed by the private sector. There's many factors at play. There exists no world where Boeing benefits from having their planes crashing.
- fzeroracer 7y ago
  There does exist a world. It's a world of calculated risks, where people figure out how far they can push things before the risks start eating into profits. It's the same thing that occurs with risk analysis using customer data. They only fund exactly as much security as they need. Does the company benefit from having private data leaked? Not particularly, but if the cost of having data leaked is less than the cost of securing that data, then businesses will not secure their data. Which is where regulations come in.
  - bartimus 7y ago
    The regulatory world is also a world of calculated risks. In any case. The result of the calculation will always be: "crashing planes = not good for our company"
- zucker42 7y ago
  Boeing benefits from cutting costs. Cutting costs can lead to decreased quality. The plane crashing is a risk of decreased quality. Making anything often involves tradeoffs and the point of Boeing's maximum profit is probably not the same as the point of the maximum benefit to society.
  - sgregnt 7y ago
    Isn't Boeing a part of society? How do you define maximum benefit of the whole society please share the wisdom! A point where there is maximum benefit to one part of society is probably not the point where there js maximum benifit to the other part of society.
- hanniabu 7y ago
  > In a deregulated world banks wouldn't get bailouts. They would go bust. Is this not what capitalism is?
- sumedh 7y ago
  > It got exposed by the private sector. Was it really exposed by the private sector, I thought it was bunch of university students and their prof doing some research.
  - bartimus 7y ago
    It was a private non-profit company: https://www.bbc.com/news/business-34519184 https://www.bbc.com/news/business-34519184 https://theicct.org/mission-history https://theicct.org/mission-history
jostmey 7y ago
I think there is a simple solution--pay civil servants well
- danieltillett 7y ago
  That would help on the quality side, but it is not going to help on the revolving door problem.
- hanniabu 7y ago
  Some can never have enough and will always welcome more money in their pocket.
ilaksh 7y ago
There is a structural flaw inherent in the characteristics and relations between traditional money and traditional government.
TomMckenny 7y ago
> the revolving door between government and industry, the influence of lobbying, lack of competition within critical American industries, deregulation All very serious problem. But regulatory capture comes only from money in politics.

bartimus 7y ago

In a deregulated world banks wouldn't get bailouts. They would go bust. Governments wouldn't pressure France with import tariffs to protect their aviation industry. In a heavily regulated you still got dieselgate. It got exposed by the private sector. There's many factors at play. There exists no world where Boeing benefits from having their planes crashing.

fzeroracer 7y ago
There does exist a world. It's a world of calculated risks, where people figure out how far they can push things before the risks start eating into profits. It's the same thing that occurs with risk analysis using customer data. They only fund exactly as much security as they need. Does the company benefit from having private data leaked? Not particularly, but if the cost of having data leaked is less than the cost of securing that data, then businesses will not secure their data. Which is where regulations come in.
- bartimus 7y ago
  The regulatory world is also a world of calculated risks. In any case. The result of the calculation will always be: "crashing planes = not good for our company"
zucker42 7y ago
Boeing benefits from cutting costs. Cutting costs can lead to decreased quality. The plane crashing is a risk of decreased quality. Making anything often involves tradeoffs and the point of Boeing's maximum profit is probably not the same as the point of the maximum benefit to society.
- sgregnt 7y ago
  Isn't Boeing a part of society? How do you define maximum benefit of the whole society please share the wisdom! A point where there is maximum benefit to one part of society is probably not the point where there js maximum benifit to the other part of society.
hanniabu 7y ago
> In a deregulated world banks wouldn't get bailouts. They would go bust. Is this not what capitalism is?
sumedh 7y ago
> It got exposed by the private sector. Was it really exposed by the private sector, I thought it was bunch of university students and their prof doing some research.
- bartimus 7y ago
  It was a private non-profit company: https://www.bbc.com/news/business-34519184 https://www.bbc.com/news/business-34519184 https://theicct.org/mission-history https://theicct.org/mission-history

jostmey 7y ago

I think there is a simple solution--pay civil servants well

danieltillett 7y ago
That would help on the quality side, but it is not going to help on the revolving door problem.
hanniabu 7y ago
Some can never have enough and will always welcome more money in their pocket.

ilaksh 7y ago

There is a structural flaw inherent in the characteristics and relations between traditional money and traditional government.

TomMckenny 7y ago

> the revolving door between government and industry, the influence of lobbying, lack of competition within critical American industries, deregulation All very serious problem. But regulatory capture comes only from money in politics.