What Happens When Industry Self-Regulates

Discussion in 'Current Events' started by MrFedEx, May 5, 2014.

  1. MrFedEx

    MrFedEx Engorged Member

    Republicans and their close cousins, the Libertarians, are always whining about oppressive government regulation, and the need to abolish or scale-back government agencies that regulate business. So, what happens when industry gets to regulate itself? How about a huge ferry disaster? The recent Korean ferry tragedy is a textbook example of what happens when there is little to no government oversight of a safety-sensitive industry. The company that owned the ferry falsified cargo records and/or deleted them entirely, overloaded the ship constantly, modified the ship and didn't notify the proper agencies, and generally ignored safety. Why? So they could make more profit.

    It's become obvious that the cause of the accident was gross overloading...to the point that simply making a sharp turn could cause the vessel to founder. The steering gear apparently failed or malfunctioned, and the ship actually made a sharp turn...and over it went.

    Yes, we need to allow industry here to do the same thing because they would never put profit over safety. Republicans, the people who want to kill you.
  2. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    I don't think the groups you mentioned, Republicans or Libertarians, want to end regulations. Nobody is calling for that.

    I think they have been calling for a reduction in regulations.
  3. roadrunner2012

    roadrunner2012 Four hours in the mod queue for a news link Troll

    Realbrown, child, you have no idea.

    Here are just a few excerpts of the Libertarian Party platform that David Koch ran on in 1980, courtesy of Bernie sanders.:

    “We urge the repeal of federal campaign finance laws, and the immediate abolition of the despotic Federal Election Commission.”

    “We favor the abolition of Medicare and Medicaid programs.”

    “We oppose any compulsory insurance or tax-supported plan to provide health services, including those which finance abortion services.”

    “We also favor the deregulation of the medical insurance industry.”

    “We favor the repeal of the fraudulent, virtually bankrupt, and increasingly oppressive Social Security system. Pending that repeal, participation in Social Security should be made voluntary.”

    “We propose the abolition of the governmental Postal Service. The present system, in addition to being inefficient, encourages governmental surveillance of private correspondence. Pending abolition, we call for an end to the monopoly system and for allowing free competition in all aspects of postal service.”

    “We oppose all personal and corporate income taxation, including capital gains taxes.”

    “We support the eventual repeal of all taxation.”

    “As an interim measure, all criminal and civil sanctions against tax evasion should be terminated immediately.”

    “We support repeal of all law which impede the ability of any person to find employment, such as minimum wage laws.”

    “We advocate the complete separation of education and State. Government schools lead to the indoctrination of children and interfere with the free choice of individuals. Government ownership, operation, regulation, and subsidy of schools and colleges should be ended.”

    “We condemn compulsory education laws … and we call for the immediate repeal of such laws.”

    “We support the repeal of all taxes on the income or property of private schools, whether profit or non-profit.”

    “We support the abolition of the Environmental Protection Agency.”

    “We support abolition of the Department of Energy.”

    “We call for the dissolution of all government agencies concerned with transportation, including the Department of Transportation.”

    “We demand the return of America's railroad system to private ownership. We call for the privatization of the public roads and national highway system.”

    “We specifically oppose laws requiring an individual to buy or use so-called "self-protection" equipment such as safety belts, air bags, or crash helmets.”

    “We advocate the abolition of the Federal Aviation Administration.”

    “We advocate the abolition of the Food and Drug Administration.”

    “We support an end to all subsidies for child-bearing built into our present laws, including all welfare plans and the provision of tax-supported services for children.”

    We oppose all government welfare, relief projects, and ‘aid to the poor’ programs. All these government programs are privacy-invading, paternalistic, demeaning, and inefficient. The proper source of help for such persons is the voluntary efforts of private groups and individuals.”

    “We call for the privatization of the inland waterways, and of the distribution system that brings water to industry, agriculture and households.”

    “We call for the repeal of the Occupational Safety and Health Act.”

    “We call for the abolition of the Consumer Product Safety Commission.”

    “We support the repeal of all state usury laws.
  4. MrFedEx

    MrFedEx Engorged Member

    South Korea reduced regulations. I've heard plenty of GOP-types who basically want to abolish regulatory agencies. They need their own planet so they can live the regulation-free, total liberty lifestyle they advocate. I'm thinking Jupiter, or possibly Kolob (ask Mr. Romney where it is).
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  5. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    You have some kind of problem with freedom?
  6. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    I agree with most of those. But not all.

    And they left some stuff out.

    Like abolish all foreign aid.

    Abolish Dept. of Education, Interior and Health and Human services, housing and urban development, and transportation

    I believe in freedom.

    Government is the negation of freedom.
  7. moreluck

    moreluck golden ticket member

    "It's become obvious that the cause of the accident was gross overloading..."

    Initial reports said the ferry was at about half capacity !!
  8. Nimnim

    Nimnim The Nim

    Without regulation industry will eventually screw up. When they screw up, regardless of regulation there's still a possibility of lawsuit, and they lose business. Losing business is the biggest deterrent to "abhorrent" behavior a business has. Even with regulations if they screw up, they don't care until they lose business.

    With regulation though the industry will still screw up, but government gets paid.
  9. MrFedEx

    MrFedEx Engorged Member

    Do your homework. The ferry was overloaded with cargo.
  10. MrFedEx

    MrFedEx Engorged Member

    Sometimes government is absolutely necessary, as in the FDA, FAA, and the many other agencies that keep business in-check. Industry has consistently proven, that, left to their own devices, they will almost always do what is profitable rather than what is ethical. In other words, industry needs to be regulated.
  11. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    Yes. Limited government is good. Doing only what is absolutely necessary for the safety of the U.S.

    Anything else they do limits freedoms.
  12. moreluck

    moreluck golden ticket member

    You didn't specify people or pkgs. When saying "ferry", I think "people" not cargo. Maybe you should be more specific.
  13. wkmac

    wkmac Well-Known Member

    The problem with regulation, whether self or state, it tends more often than not to work like this. More often than not, one is challenged to decide if this is a form of self regulation or state regulation. Most cases it seems to be one and the same.