[miltonlost]

> Profit-seeking incentivizes safety and makes any cartel situation inherently unstable

Do you have ANY knowledge of economic history? Profit-seekers putting $1 into safety equipment rather than their own pocket is a laughable thought.

[sophrosyne42]

Yes, and a distinct feature are pressure groups funded by corporations drumming up fake issues in order to get regulations passed that remove the competitors to those corporations.

The sidelining of tort law also didn't help one bit.

[johnnyanmac]

So we're going to ignore the pressure groups who are deregulating in real time to tear down regulations that also remove competitors to those corporations? Or is it okay to be anti-competitive when it helps you get paid?

[sophrosyne42]

Well in contrast to the enterprises which can survive free competition, those which rely on regulations to survive receive rents for which no corresponding benefit to consumers can be recovered. This is what rentseeking is.

There is a very big difference between succeeding against competition because you're able to deliver a cheaper or better product, as in free competition, and succeeding because a government decree happens to exclude your product from certain liabilities that your competitors aren't excluded from.