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