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Actually, it looks as if it wasn't that strictly regulated, hence the hundreds of deaths because Boeing was allowed to self-certify. The magic of the free marke
by cultus 7y ago
Actually, it looks as if it wasn't that strictly regulated, hence the hundreds of deaths because Boeing was allowed to self-certify. The magic of the free market was indeed at work here, producing value for shareholders.
- fuzz4lyfe 7y agoTheir competitors were highly regulated, preventing them from existing in the first place. As always in incumbent firm wrote the regulations and defacto decides who is in violation or not.
- cultus 7y agoThe economy cannot be separated from the government. If large capitalist interests exist, they will exert power with the government, in the form of influencing regulations or other rent-seeking. Thus you cannot have a "fair" capitalist economy. It would be nice if capitalism worked as it did in econ classes, but it doesn't with real humans.