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BP and a Free Market future?

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posted on Jun, 17 2010 @ 12:38 AM
ATS has been a hotbed for very strong ideological battles regarding the role of government
VS. industry in the United States of America. As of late, it seems to be the popular belief that
the FREE Market is what is missing in our modern political equation.

Per this on going dialogue;

This proposed FREE MARKET will create a boom of business, innovation, employment, etc...

In short;
the Free Market is the solution to all of America's current woes, which are currently
created by our incompetent, representative government and its over reaching policies and practices.

I have spent a lot of time investigating this concept and interacting with members who advocate for Free Market revolution. On many occasions I have been assured that the Market will police itself, that recourse will be delivered thru the court system, that preemptive precautionary measures are not necessary because people have a choice to engage and punish business's based upon their bad practices. America will keep Privately funded tyranny/disasters at bay- once the void of government is filled by market functions, competition and the consumer.

Now we have the BP, situation... And it really exemplifies many of the basic arguments
I have been engaging in here with proponents of Free Market. I feel this is a great trial run to see how the Meta Free Market reacts and take responsibility for its actions, or at least see some of these Free Market principles in action. The government gave the subject time to react and there seems to be little or no action in seriously mitigating this situation. We have learned that BP has been the master of its own practices and self determination in placing the rig, determining its own safety practices and oppressing in a manner that has not included any form of competent government over sight. The reaction has been the same as the set up...

So, we have a devastating situation that also serves as a proving ground for the principles
that would govern a Post Federal Governmental USA, at least the best approximation
I can fathom.

The government has failed and the principles of natural recourse do not seem to be working either. BP and the American citizen are not equitable in cumulative circumstance, i.e poor INDIVIDUAL fisherman cannot afford to engage in a decade long protracted legal war, as most individuals cannot.

So please, this is an ass smoke free zone, I have tried my very best to convey this in an honest
straight forward way.

What actionable, practical and equitable form of recourse do individuals have less the construct of government in this case?

And if BP is ABLE to deflect a huge portion of the cost of this mess should the government support the citizenry of the gulf states with socialist means, cleanup, welfare, funds etc???

Are there some realms that SHOULD be competently policed by the FED regardless of free market principles?

What says you?

[edit on 17-6-2010 by Janky Red]

[edit on 17-6-2010 by Janky Red]

posted on Jun, 23 2010 @ 11:16 PM
Hey JR! Long time, no chat! Sorry I was a few days late finding this thread. I only had a minute, but wanted to jump in with a brief reply, upon which I will try to elaborate, later.

First, I believe there is a definitive distinction between regulatory control of economic business and that of environmental and/or health and safety issues. Although, there is the potential for governmental abuses in both planes.

In reference to the current BP example, I understand there has been a significant economic impact on BP owned and/or branded filling stations, due to an unorganized "boycott". That is the "free market" at work.

However, I find it very confusing that the Administration launched an all-out offensive, in the media as well as on The Hill, castigating BP for the impact of the spill on the Gulf coast economy. Certainly and inarguably, BP has a responsibility here. The confusing part is that, while Obama is chastising BP, a Cabinet member (Ken Salazar, Interior Sec) is fighting for a drilling "moratorium", presumably at the behest of the Administration, which is sure to create further damage to the Gulf coast economy.

posted on Jun, 23 2010 @ 11:38 PM
Had the Bankers and/or Government not suppressed people like Tesla/Moray/Farnsworth we wouldn't be dealing with oil anymore.

Free market solution right there

posted on Jun, 23 2010 @ 11:40 PM
as far as the market policing itself

What Keeps us Safe?


Safety and the Market Economy

[edit on 23-6-2010 by bigbomb456]

posted on Jun, 23 2010 @ 11:49 PM
reply to post by Janky Red

Here's one lawyer's comments:

"Exxon Valdez lawyer offers dire warning for Louisiana fishermen"

posted on Jun, 23 2010 @ 11:57 PM
reply to post by manta78

Well how about that? A government oil spill crisis act that would LIMIT the amount of damages that can be charged!

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