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by mtgex
3032 days ago
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We have lots of restrictions on corporate behavior because markets do not solve human problems, they solve corporate problems. The corporate response to long hours and low pay is to put up suicide nets. In the U.S. we have minimum wage, hourly restrictions, break, and overtime laws. You can't trust the market to weed out bad players when the bad players are the ones with enough money to buy public perception and government influence. You have to force them to do the right thing through legislation. |
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You also seem to neglect that the government all over frequently takes advantage its position in ways that make things worse for society.
The thing about corporations, though, is that with minimal regulation, they can be forced to compete, and ultimately bad ones are orders of magnitude more likely to change or die than any given government. In fact I'd argue that a constant churn of negative companies is still better than some of of the worse tyrannical states that ever existed, by a large margin, because of the forces of competition.