gut;1230515 wrote:Again, you pretend like something that happened a hundred years ago is common business practice today. Business have evolved with the times just like everything else. There are still abusers today, just as with anything and there will always be, but in fact it's PEOPLE making those decisions. A "corporation" doesn't do anything on its own, it is always people behind those decisions. Corporations don't commit fraud, people do - at all levels (from CEO's down to the mortgage writer peon and ignorant home buyer, union workers scamming the system, etc...)
But as I've said before, most good businesspeople now recognize that lost-time injuries are costly, and that grossly overworked people are inefficient. Most errors are the result of inaccurate or improper analysis/evaluations. Only a small number of people without fear of fraud or reprecussions would knowingly cut corners with an expectation of likely failure costing millions (and more). But in most cases the intentions are benign - we don't impose a 10-yr waiting/approval on procedures or methods when the true reliability becomes more certain. There's a trade-off of balancing the risks and costs - excessive regulation has a net negative economic impact. A responsible approach recognizes the ability of the system to absorb these failures in light of the fact that 100% elimination is cost prohibitive. Two examples would be the mortgage business where the system couldn't absorb the failures so you have to do a lot of re-writing. But then you can look at building codes which typically apply to new or remodeled/rennovated structures rather than forcing people to constantly pay to update their homes to meet current standards. By your criteria, something that is an issue for 1 in 10,000 should be forced on everyone to update to standards
Corporations exist because of government, not vice versa. They are created by a charter given to them by government that gives them certain advantages. They become economic entities with the right to make contracts, issue stock, borrow. The corporation is responsible for these actions, not individuals. Government also grants the advantage to the corporations and stockholders of limited liability so no matter what horrendous thing this corporations do, the stockholders responsibilities are limited. Gosh government even gave these artificial, soulless entities the right to participate in the political process.
And then government let them loose on society, and they exploited men, women and children workers, they produced dangerous, even deadly products. That is what they did when they were allowed to act as they wished.
Then the people acting though their government put limits on these soulless entities on how they could treat workers, consumers and the corrupted political process. WE HAD SEEN HOW THEY ACTED WITHOUT REGULATION And after all besides the abuses, why shouldn’t the government be able to regulate entities it brought into existence and endowed with so many advantages. Now those regulations are softening and the abuse is increasing.