The value of technical programs

[PandaBear]

Originally Posted By: buster
Originally Posted By: Tempest
Originally Posted By: SteveSRT8

We could run another country just on what we waste!

Without doubt. 10% of the US economy goes to satisfying Federal regulations. This is roughly equivalent to the entire economy of Canada or India.

How much of this is generating new wealth?


Some regulations are needed, duh. What planet are you from?


How much of wealth is lost when natural gas pipeline blow up, a whole town worth of building collapse in earth quake all because there are no regulations at all? San Bruno pipeline explosion anyone? PG&E can't even tell where and what pipeline is made of what method and when. Haiti anyone? The whole capital is collapsed because there is no regulation on construction method (non reinforced concrete).

How much do we lost in oil tanker accidents if we are still using single hull tanker? Multiple that by Exxon Valdez and inflation rate.

 

[PandaBear]

Originally Posted By: Al
The job o the private sector is provide goods and services at a profit. Its not to hire people to do nothing. That's what the Government does. If the 1+ Trillion per year that the government takes from the private sector by over-regulation would be removed... that's 30 million jobs. Now cut the waste of the federal Government (about 1 trillion) and you have companies begging for workers.


Nonsense.

Private sector also hire people to do nothing, and government do provide service that private companies (especially small businesses) are leaching on adding value on.

Tell me that Enron is doing more to the society and economy than USPS. Both are failing for different reasons.

The point is, in private sectors when the business fail, some people (customers, banks, vendors, landlords, employees) will lose out and hold the bags. In public sectors when the gov fail, the tax payer will lose out and hold the bags.

Usually private sectors are expected to make maximum profit, and in some cases like monopoly, are doing so by ripping customers or vendors off (charging too much for iPhone or cable TV, for example). But the expectation for gov is to "break even" while providing the services so someone else (citizens, tax payers, politicians) can steal claim the credit for creating value.

Those who steal the credit is usually the loudest at calling gov create no value.

 

[buster]

Ughhh I'm so tired of that right wing talking point. Just remove all regulations and all will be well. Zero evidence for that, plus some regulations are absolutely needed and also employ people. It is also true many can hurt and distort the market. Balanced approach is needed.