2 ms·
The free market obviously didn't work because it was a third party being harmed - unless you're in a capitalist anarchy like Snowcrash with gangs for hire there
by whatshisface 5y ago
The free market obviously didn't work because it was a third party being harmed - unless you're in a capitalist anarchy like Snowcrash with gangs for hire there is no market-based mechanism for representing the interests of anyone not party to a sale. The real question is why the liability plus liability insurance system (the actual alternative to regulation) did not work. Why did those companies not fear litigation when it started becoming known that they could be subject to a class action with the size of the entire population?
Who was protecting them, and how?
- indymike 5y agoThe problem here was the regulator injected into the process has gone full snail speed on approving unleaded for aviation use. Oh, and as far a liability goes, that would be the FAA that held things up, not the engine manufacturers, gas producers or plane owners. So the regulator was the problem.