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It's far more that "regulatory capture" is the root cause here. That Boeing knowingly and deliberately played fast and loose with the rules around how the 737
by smackeyacky 2y ago
It's far more that "regulatory capture" is the root cause here. That Boeing knowingly and deliberately played fast and loose with the rules around how the 737 MAX was certified and got away with it because they had outsize influence with the FAA.
It's not exactly capitalism, but it is a regulatory failure that exposes the corruption of the institutions that oversee Boeing. Corruption is the cause.
- mcculley 2y agoLeftists have a coherent argument about this: Capitalism always results in corruption because capital can influence/buy government. Our implementation mostly uses lobbying and the revolving door instead of direct bribes, but nevertheless results in 737 MAX. Maybe we can improve the system in the U.S. and make it less corrupt. I hope so, but I am not very optimistic. I want free markets, free trade, private property, and the capitalism that arises from these forces. But our current implementation is not proving itself to be ideal.