Thursday, May 13, 2010

Fantasy Land

Maitri reminds us that the idea of a self-regulating free-market is the capitalist version of utopia.

She's absolutely right.

As if once we accept the true principles that businesses can and should hold the final word in regulating themselves because they know best, we will live in a happy place with unicorns and faeries, raining gold dust down on adherents' foreheads, where oil spills never happen and the market value of your stocks always goes up, just like the value of your home.

Mistakes are inconceivable in fantasy land.



GentillyGirl said...

I am with Maitri on this one.

The Corwyn said...

Just because bad things happen, it is not always a clarion call for a cause celebre.

A pure, perfectly working capitalist system exists only in theory; much like a pure communist system. The underlying theoretical constructs are based on rational individuals operating in a rational environment.

Regulations should only exist in any form so as to temper irrational decisions--usually in the form of exploitation--and their results.

Unfortunately (and as I mention in this post Danger, Will Robinson!), sometimes shit just happens and the alarmist reactions of slapping new restrictions and laws to make sure bad things never ever ever happen again is just as irrational. Yes, sometimes greedy scumfucks stick their dicks in the mashed potatoes, but sometimes shit just happens, despite every best measure and precaution--reality answers to no one. The key is to work on regulating the former while understanding and accepting the latter and exercising discerning judgment differentiating the two.

Trying to stranglehold on Murphy's Law will only result in Mr. Murphy finding new and improved ways to fuck up your day.

Cousin Pat from Georgia said...

Corwyn, your point is an important one. As more and more information comes to light about the Macondo, it looks like we will be unable to judge the effectiveness of current government regulations, because enforcement broke down; we will be unable to judge actual business safety proceedures, because they appear not to have been followed. Emergency plans are having to be cobbled together, based on past planning that was not ready to be implemented.

This is fast becoming an instance where any new rules and regulations will be irrelevant, because old rules and regulations were not enforced. You can make all the rules you want, they are useless if not enforced.

Which leaves the only option as a redress of grievances through litigation and punitive damages.