Self-regulation can work if the ramifications of not acting in the best interests of the society HURTS!
Say if the fertilizer company would be hit with a $1 billion fine plus all the lawsuits I think it might have had an impact on how they operated. Just an idea.
Thing is..without a regulating entity.. like OSHA, FDA, or such.. who would levy the fine?
I'm sorry.. we've seen enough accidents, spills, massive botulism/ect incidents in the last 13 years to prove that 'smaller government' isn't working. I'm more of a Reagan 'right size' government. He did some stupid downsizes.. but he wasn't afraid to keep regulatory authority in the hands of the feds.
Look at the internet. Right now..no one has regulatory oversight for the US's internet. So you have no central point for fraud, computer crime and such. You got the FBI, NSA and other regulatory groups responsible for various legal issues within the US.. but depending on the agency little no support or infrastructure to do anything.
If someone crashed the NY Stock Exchange tomorrow..who would be lead on the investigation? Who would have oversight?
Every food production industry has increased from two to three times but the health/safety inspectors have been cut by at least half (or more) depending on the region of the country.
You got proposed legislation that is going to make putting 'Growth Hormone' or 'Genetically Modified' illegal to put on food. Ten years from now what else won't be allowed on ingredient lists to protect 'design secrets?'.
You want smaller government? Cut the staffing in places like Congress and the White House. Curtail 'free postage' from federal agencies, elected officials and the military. Make them pay post office a rate for their use.
Today companies have more rights to protect their information than the public has rights to be informed.
that is wrong.