The Problem with Language
The basic problem with language is reference. Nouns, in particular, are supposed to have reference to definite things --- real entities, relations among entities, sensations, ideas, etc. But when we use language do we always know that a reference point exists? Unfortunately, something that philosophers have demonstrated well, we can use nouns as though they have reference, when they don't, and hence make entirely vacuous statements.
I went to Sheldon Richman's article on the BP spill (http://www.thefreemanonline.org/columns/tgif/bp-spill/). I found myself in agreement with much of what he said. It is more than clear that corporations and other business interests are thoroughly involved in government --- everything from heavy duty lobbying to staffing crucial government agencies with their own. The US has a long (and sad) history of foreign policy (especially in the Americas) based on supporting corporate interests abroad. It is fairly clear that government spends more time protecting the property interests of corporations than of private individuals. To me, however, that is a fact of the corruption of government and not a reason for abandoning government as such. Unfortunately, with its recent decision, the Supreme Court has managed to make corporations even more powerful in their influence over government.
What interested me, in Richman's article, is the argument for an ideal "free market." Clearly, with all of this government protection (regulation and oversight, when it exists), there is no free market economy in the United States. But that makes it very difficult to argue (as Richman apparently wants to do) that free markets would be the salvation for all these problems. "Free market" has no reference; there isn't such a thing, nor has there been such a thing in centuries. It is not enough to merely call it by name as if it has reference or meaning. One needs a thorough description that would tell us actually how such a thing would work.
Short of that, we are stuck with government protection and regulation. The problem, really, is when government doesn't tend to its proper role --- appoints oil-industry people to serve on oil-industry regulatory boards and agencies, encourages agents to (literally) sleep with oil industry people, cuts off funding for regulatory and oversight activities, and turns to look in the opposite direction. (Remember back in the first year of the Bush/Cheney administration when Cheney met with his "energy team"!!!)
I do not think the problem is government oversight. I think the problem is bad, corrupt government that throws oversight out the window.
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