Words of wisdom from a big thinker. I hope to share my thoughts and maybe after it is all over we might have had some fun and learned a little something at the same time.
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Thursday, June 10, 2010
6-10-2007 (Thursday)
I am still waiting for Adam Smiths "invisible hand" to fix this oil leak problem.!
"BP, because it's not your fault if no one stops you."
There's a certain irony in the fact that the very folks who are the biggest critics of regulation are now blaming the gov't for not stopping this. Now that I think about it, irony may not be quite the right word.
How do you regulate an industrial accident? It's more a question of why a volatile fuel company had no disaster plan in place, should such a thing ever occur.
You don't regulate an industrial accident, you regulate to prevent industrial accidents. As Lance's post was pointing out, the profit motive is clearly not the correct tool for the job.
4 comments:
"BP, because it's not your fault if no one stops you."
There's a certain irony in the fact that the very folks who are the biggest critics of regulation are now blaming the gov't for not stopping this. Now that I think about it, irony may not be quite the right word.
How do you regulate an industrial accident? It's more a question of why a volatile fuel company had no disaster plan in place, should such a thing ever occur.
You don't regulate an industrial accident, you regulate to prevent industrial accidents. As Lance's post was pointing out, the profit motive is clearly not the correct tool for the job.
Sorry, the Adam Smith's invisible hand breaks down when govt's visible fist gets in the way.
Liiike... why is it again that they are drilling that far out at sea in depths they can't service?
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