Monday, March 13, 2023

Capitalism Needs Guardrails

 Conservatives usually win the war of words.  Government employees are branded as bureaucrats, with the negative connotation of being lazy and obstructionist.  Government in general is impugned.

Conversely, deregulation is regaled as unleashing the power of capitalism.  Long forgotten is the purpose of regulations.  Water flows to the lowest level, as do companies in pursuit of profits, and the maximization of the bonus for the executives that lead them.  Dumping toxic waste in a stream is cheaper than safely storing it or transporting it to a proper facility.  Fewer employees on trains, and fewer inspections of brakes saves money.

Regulations protect communities, and the nation as a whole, from unfettered capitalism. Yes, we have all been annoyed at some point by "red tape," making it too easy to miss the bigger picture.   Clean water, clean air, safe food, and efficacious medication are ensured by government regulators.

President Trump, gleefully bowing to the wishes of his party, endangered our safety in two ways.  First, he initiated broad deregulation which played a role in both the toxic crash in East Palestine as well as the collapse of Silicon Valley Bank.  Second, having total disdain for government, he thinned the ranks of regulators, and, where possible, replaced seasoned veterans with political appointments.

A rising tide may lift all ships, but the passengers suffer if the air and water are polluted.

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