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> We need to reel in capitalism Ah yes, the aerospace and airline industries are just really overrun with free market ideals.

• kibwen 3y ago
  I hope it's not controversial to point out that agents motivated by profit will, at the limit, optimize for profit at the expense of everything else (including, in this case, safety). Airlines are less regulated today than they were back when Boeing got its start; the other quality of free and markets is that they consolidate into monopolies, at which point the market stops functioning entirely as a useful mechanism for resource allocation.
  • JumpCrisscross 3y ago
    > agents motivated by profit will, at the limit, optimize for profit at the expense of everything else As opposed to agents motivated by conformity and an eye towards bureaucratic values? Humans are self interested. This is common across systems. What differs is how we orient those interests in concert or competition, and when that dial is turned.
  • bsdpufferfish 3y ago
    > optimize for profit So where are the profits? Boeing hasn't made money since 2018 and I suspect their revenue per employee is very low. They are "too big to fail", part of the ministry of defense, and a large make-work program. > they consolidate into monopolies Indeed there are about 3 aerospace companies setup to server the US government. It regulates everything from how paperwork is stored, to what tests candidate employees must pass, and which parts they can order. In the commercial sector all of their customer's requirements come from the government. > Airlines are less regulated today In what ways?