Tuesday, February 16, 2010
Absurdity of Government Regulation of Industry
"One way to think about the relative efforts of government and business in the safety arena is this: On any given day in America, thousands of local, state, and national safety regulators are inspecting businesses, studying test data, issuing regulations, and adjudicating violations. But on that same day, millions of American workers, managers, designers, and engineers are working to make their workplaces safer, to maximize sales and revenues, minimize losses, and maintain good, long-term relationships with productive employees.
The magnitude of private-sector safety efforts, both in time and money spent, far exceeds that of even today's bloated regulatory bureaucracy. So the (regulatory) fine is best thought of as political theater, not as a deterrent to protect worker safety."