Will small government (less regulation) help stop Nuclear Power accidents, Oil Drilling blowouts, Market fraud?
is the business community REALLY (by some unknown miracle) ready to self-regulate?
- Anonymous9 years agoFavorite Answer
no self regulation brought about the recent financial collapse, three mile island, the s & l crisis, outbreaks of fatal food poisoning....need I go on. Top this off with Tort Reform and the regular working stiffs are just lining up to get screwed by the corporatists represented by the Republican and tea parties
- MikeGolfLv 79 years ago
Can it do any worse job than the 'big government' we have now?
Just look at the BP oil spill. It was caused by human error on the drill rig (something that no government regulator can prevent) and a previously unknown basic design flaw in the blowout preventer (something else that no amount of government regulation can prevent).
Now consider nuclear power - despite all of the doomsday predictions Not One Person Was Harmed by the accident at Three Mile Island. The reactor in Japan was hit by an earthquake that was Seven Times more powerful than it was officially built to withstand and is still functioned as intended. The reactor only had problems after it was flooded by a tsunami that was twice the size of the predicted 'maximum possible event.'
What makes you think that more government regulation would have done any good whatsoever? Both these disasters were caused by something that was not known prior to their occurrance.
Care to explain exactly what good adding another layer of bureaucrats will do to protect us against unknown hazards?
- 3 years ago
while it is composed of the Republican company politics you're damned in case you do and damned in case you do not. They have been bitching approximately government involvement in "inner maximum business enterprise" yet while the government isn't getting in contact interior the worst oil spill in US historic previous they are nonetheless bitching that Obama hasn't performed adequate. the only people at fault this is BP and no one else. And purely BP might desire to pay not Obama or the Tax Payer. it isn't the tax payers oil rig, it is not Obama's oil rig, it is BP's rig. all of us know the implications of drilling if issues circulate incorrect. the only reason they are attacking Obama now's through fact they are able to learn from this politically, and the reality that maximum of oily offshore drilling flesh presser are Republicans -- they figured they might shift the attention off them to Obama in the event that they scream approximately it adequate. in basic terms like they did while that they had a huge 7 365 days spending spree, and while Democrats too administration of congress the financial gadget so "comfortably" went to **** and Republicans so "comfortably" blamed the crap out of Democrats. And now we pay attention Republicans inclusive of Palin blaming the ENVIRONMENTALIST FOR THE SPILL? WOW! Environmentalist do not desire ANY offshore drilling and in the event that they actually researched data, Oil businesses do not desire to drill in shallow waters through fact the OIL WELLS there are so SMALL it is not properly surely worth the TIME OR the money to make it effective! We pay attention a great variety of preaching approximately accountability and accountability yet superb now yet while it is composed of the Oil Spill it is the Liberals, the Democrats, President Obama, and the Environmentalist fault. BP and the drill toddler drill drill people had not something TO DO WITH THE SPILL.
- jeeper_peeper321Lv 79 years ago
Well lets see,
1. there is a federal regulation saying that NOA, must sign off on any new off shore oil well, before approval.
The obama administration ignored that regulation when they approved the deep horizon oil well.
2. There is a federal regulation that requires an environmental impact statement on all new oil wells in the gulf.
The Obama administration waived that requirement for the Deep horizon oil well.
3. There is a federal regulation that requires a valid emergency action plan in case of a oil spill, for all oil wells
The obama administration accepted a emergency action plan, written for artic oil well, it still had plans for removing penguins in the plan.,
4. There is a federal regulation requiring monthly safety inspections of all oil wells.
The Obama administration never once inspected the deep horizon oil well, during construction or while in operation.
5. So with all those regulations on the book, none of which the Obama administration enforced
Just how will new regulations have any impact at all ?
6. And we will noty mention that it was a BP oil well and that Obama just happened to receive more campaign contributions from BP than any president in history.
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- GammaLv 49 years ago
It is within a corporations' DNA to seek to maximize profits. Corporations will do whatever they need to within legal limits (half the time) in order to make sure they bring home the bacon to their shareholders so that the CEO's can get their nice fat bonuses. The financial crisis is what happens when you let these sorts of entities run loose. Regulation is (sadly) a necessity.
I am all for a streamlined, efficient Government. This would require an in-depth analysis of the current control systems in place so that the proper reforms can be conceptualized and enacted. It WOULD NOT mean leaving things up to 'market forces' as if we were living in some happy, magical fairy land.
P.S to all the people above. Stop talking about 'big government'. Why don't you look to Ronald Reagan's deregulation for more answers.
- 9 years ago
No, but a big government is going to help stop it either since the regulated become the regulators because of their friends in government.
- Anonymous9 years ago
Did you not pay attention to BP's stock prices during the oil spill? They plummeted... BIG TIME. Did you not pay attention to what happened to Enron when they committed fraud? They ceased to exist. So yes, the market can and will regulate itself; all government regulations cause is higher prices and higher unemployment due to the compliance costs put on businesses.
Can large government prevent earthquakes and their subsequent Tsunamis?
- tribeca_belleLv 79 years ago
No, obviously not. Appropriate regulation is needed. Some people are letting ideology obscure their common sense.
- ?Lv 49 years ago
How about punish criminal activity. If a corp doesn't follow the law send some to jail. But, accidents do happen and that doesn't mean that anyone is at fault.
- I'm Chris HansenLv 79 years ago
There will always be accidents but self regulation happens every day. It is the most underrated thing in the world.