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This kind of self regulation can probably work and be cost effective if you ruthlessly destroy any company found in violation rather than some fine and an apolo

This kind of self regulation can probably work and be cost effective if you ruthlessly destroy any company found in violation rather than some fine and an apology. Reminds me of criminal punishment in medieval times. Incarceration was a complete economic non-start so the penalties were brutal as a deterrent.

orclev 3y ago
Corporate capital punishment, the company gets seized it's patents and copyrights made public domain, and any other assets it has sold to the highest bidder and those profits used to compensate the victims.
KennyBlanken 3y ago
Unless you scale fines with income/wealth, fines are just a way of letting the rich do what they please. On the off chance they're caught - and don't get let off the hook because of how 'respectable' they are - it's so little money to them, it's not a discouragement at all. A fine for dangerous driving that is crushing to a day laborer is unnoticeable to someone wealthy. And whereas that laborer, to challenge a ticket, would need to take time off from work costing them further - the wealthy person may have a standing relationship with a law firm, and that law firm might send a clerk or paralegal to challenge the ticket in court...and do so gratis.
- cromulent 3y ago
  That’s why Finland has “day fines” - after a threshold, fines are x days of your last years income. 5 or 6 figure fines are not uncommon.
  - Waterluvian 3y ago
    I wonder if that makes the weight of the consequence less abstract? “I sped and now I’m working for free for a day.”
surgical_fire 3y ago
The problem of punishing corporations, is that the people that benefited from misconduct are possibly gone from the company already, and you might be punishing current employees who might even be unaware. The people responsible for the misconduct at the time need to face criminal prosecution, and their personal wealth has to be first on the line for damage reparations.
- Waterluvian 3y ago
  It’s not about punishment. That’s the core of my comment. Make it so horrible for the shareholders and owners.
  - orclev 3y ago
    Can do both. Destroy the company, but also go after those responsible. Anyone who knew about the situation but didn't make their supervisor(s) aware is personally liable for damages. Anyone on the board or C-Suite that was aware and either did nothing or didn't notify regulators is also personally liable. In both cases if anyone died as a result the companies actions they should be tried for manslaughter.

orclev 3y ago

Corporate capital punishment, the company gets seized it's patents and copyrights made public domain, and any other assets it has sold to the highest bidder and those profits used to compensate the victims.

KennyBlanken 3y ago

Unless you scale fines with income/wealth, fines are just a way of letting the rich do what they please. On the off chance they're caught - and don't get let off the hook because of how 'respectable' they are - it's so little money to them, it's not a discouragement at all. A fine for dangerous driving that is crushing to a day laborer is unnoticeable to someone wealthy. And whereas that laborer, to challenge a ticket, would need to take time off from work costing them further - the wealthy person may have a standing relationship with a law firm, and that law firm might send a clerk or paralegal to challenge the ticket in court...and do so gratis.

cromulent 3y ago
That’s why Finland has “day fines” - after a threshold, fines are x days of your last years income. 5 or 6 figure fines are not uncommon.
- Waterluvian 3y ago
  I wonder if that makes the weight of the consequence less abstract? “I sped and now I’m working for free for a day.”

surgical_fire 3y ago

The problem of punishing corporations, is that the people that benefited from misconduct are possibly gone from the company already, and you might be punishing current employees who might even be unaware. The people responsible for the misconduct at the time need to face criminal prosecution, and their personal wealth has to be first on the line for damage reparations.

Waterluvian 3y ago
It’s not about punishment. That’s the core of my comment. Make it so horrible for the shareholders and owners.
- orclev 3y ago
  Can do both. Destroy the company, but also go after those responsible. Anyone who knew about the situation but didn't make their supervisor(s) aware is personally liable for damages. Anyone on the board or C-Suite that was aware and either did nothing or didn't notify regulators is also personally liable. In both cases if anyone died as a result the companies actions they should be tried for manslaughter.