Re:Who regulates the regulators? (Against the review-and-app...
by AnthonyMouse on Friday May 05, 2023 @11:35PM
(#35837717)
> especially since there are already powerful financial interests advocating for the other side.
There aren't actually powerful interests advocating for reduced safety. What they want is increased profits.
One way to do that is by eliminating safety measures to save costs, but liability for harm already removes that financial incentive because the cost of the liability should be greater than the cost of the mitigation in any case where the mitigation is cost effective.
Another way to increase profits is to impose "safety regulations" on smaller competitors so they go out of business and larger incumbents can raise prices. Powerful financial interests do not oppose this, they promote it.
There aren't actually powerful interests advocating for reduced safety. What they want is increased profits.
One way to do that is by eliminating safety measures to save costs, but liability for harm already removes that financial incentive because the cost of the liability should be greater than the cost of the mitigation in any case where the mitigation is cost effective.
Another way to increase profits is to impose "safety regulations" on smaller competitors so they go out of business and larger incumbents can raise prices. Powerful financial interests do not oppose this, they promote it.