My Wife's Problem with Libertarianism's "Deregulate Everything": Here's My Response

in #liberty3 years ago (edited)

We were listening to Bret Weinstein, on Joe Rogan the other day, episode 1055 and he addressed a problem that my wife always had with libertarianism.

When he discussed communicating with libertarians, he said they have a tendency to "hate all regulation".

Deregulate everything.
-Token Libertarian

But a completely unregulated market has extreme potential for predatory tendencies. The incentive for personal gain would lead some to prey on some unsuspecting consumers.

More so, let's say a company provides a service or product that fills a consumer need, but unfortunately has unintended consequences, or is used in a manner it wasn't intended and caused injury or death. Our litigious society would sue that company out of business.

So if some regulation could be good, is the problem that we as libertarians are so used to bad regulation that stifles competition and holds back people/businesses that we are conditioned to think it better/safer to get rid of all regulation, since most of what we know of it is bad?

My wife's example:
A company makes a widget. People live it and buy it, but having no regulation, they dump a hazardous by product in a lake. The free market finds out and opts to another comparable company that doesn't dump in a lake. Now company A is bankrupt and out of business. Free market wins! But you still have a dumpy lake. Had the regulation been in place initially, we would still have a good product, but also a clean lake.

My personal thoughts are that property rights and a court system would ensure the lake gets cleaned up.

And if you listen to the episode, you'll see that Bret Weinstein presents the argument as a strawman and uses “regulation” fast and loose.

Obviously a law against murder is perfectly acceptable for a libertarian but he also defines government incorrectly.

Government is force and libertarian philosophy isn’t about what you can do, it’s specifically about what you can’t do, which is hurt people and take their stuff.

Those are my thoughts. What are yours?

Edit: Go read @builderofcastles comment below and follow him. He reminded me that sometimes, it's the regulators who cause the lake issue and refuse to clean it up...

Sort:  

The problem is that regulations have never stopped anything.

Has gun laws ever stopped gun crime or murders?
A criminal is going to do crimes.
A con man is going to con.

And regulators are going to reg... no, they are going to fine as many people as possible. Destroying small business, and cozying up to big business.

Regulators have never stopped the "polluting of the lake".
What happens is that company B, that everyone could move to is stopped from ever forming "because regulations" so that you can't vote with your dollars.

Further, even if the regulators were honest and forthright, the rarely can stop the polluting of the lake. They only find it has been polluted, and fine the company. And, if it is profitable, the company continues doing the polluting.

And, the regulators are usually dishonest and in league with the polluters, or even worse, are the polluters themselves.

Actual incidents are the river that was turned orange by the regulators.
Wells Fargo that is still in business after stealing tons from its customers.
Gold and Silver price rigging, still, after it has been thoroughly exposed.

Yes, regulation would be nice... but it doesn't work.
Those who would follow it, don't need the regulations.
Those who would break it, would break it.

Good point, I almost forgot that sometimes, it's the regulators who cause the lake issue...

Thanks for the post, always great. As a life-long (since age 18) registered libertarian and elected official (City Council) I have first hand experience that MOST regulators cause more problems than they "solve". What we need are more liberty-minded people in office. Common sense regulation (like no murder, open legal system) can and should be done.

I have been listening to a lot of Joe Rogans podcasts lately the ones with Joey Diaz are hilarious

I think there are barriers to where libertarianism is perfectly fine, in retrospect to free market economy (Austrian ecnonomics) and some instances where part of others come into play. At the end of the day, people like Ron Paul and their freedom thinking will outweigh the Neocons, and I do like some points of Republicans, but as a whole, free market will not be dictated, is how I like to view it. Mises wrote some good books and others on Austrian economics, that make logical sense.
#libertylol

The environmental argument always comes up. A proponents of regulations forget all the bad stuff they said five minutes before about how lawless and corrupt politicians are.

Nice! Resteemed and following! Will digest all of it tonight!

Thanks!

Beep!Beep! @shadow3scalpel & listkeeper @chairborne have your six new veterans, retirees and military members on STEEM. We’ll be patrolling by to upvote your posts (because you are on the list) and we'll answer any questions you leave us. Comment by @shadowspub. This is a opt-in bot.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by libertyLOL from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.

Coin Marketplace

STEEM 0.16
TRX 0.03
JST 0.027
BTC 11720.75
ETH 379.91
USDT 1.00
SBD 1.00