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> Corporations would love if the only recourse was lawsuits that they could spend literal decades repeatedly appealing in court, allowing them to reap massive p
by _heimdall 2y ago
> Corporations would love if the only recourse was lawsuits that they could spend literal decades repeatedly appealing in court, allowing them to reap massive profits in the short term while delaying any concrete penalties, if any, into the indefinite future, and frequently having those final penalties, again if any, represent a small fraction of their profits from the behaviors in question.
This is also what we have today though. Companies get away with terrible actions until the public and eventually politicians catch on and have to act. Said action is often extremely slow and a slap on the wrist compared to the profits gained and damages caused by the companies.
How is DuPont still around after knowingly poisoning groundwater in parts of the eastern US? Regulators looked the other way, or were completely oblivious.
How is Fair Life still producing milk? Regulators clearly have seen the same reporting the public has, they either just don't care or are okay with the animal abuse as long as we get pasturized milk.
The list of companies getting away with egregious actions while supposedly under strict regulations is endless.
We can't say what a deregulated market would look like today, so much has changed since we started aggressively regulating industry. We also can't say, though, that what we have today clearly works better than the alternative with so many examples of what companies still get away with despite all of our regulatory agencies and their budgets.