Originally posted on Christian Michael:
I read an interesting article recently about how in a truly Free Market, British Petroleum would have failed post-oil spill. It would have gone out of business.
The common understanding of Free Market implies that businesses would run flagrantly out of control, abusing all natural resources and killing everyone with their unregulated products, and while I won’t argue that there are a few unscrupulous charlatans who would seek to abuse their power for money, the Free Market threatens them with a severe check to their balance. You see, those who attempt to do business and fail to deliver a quality product soon fail to find business any longer.
And in this day an age, where internet reviews become ever more important for continued business, there is less and less need (if ever there was) for government to tell you if a business is good or not. And on that note…
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