Ayn Rand just took her praise and dedication of and support for Capitalism--unfettered Capitalism--too far.
Completely, utterly "free markets" leads to things like Gulf of Mexico oil spills and the collapse of both national and international economies and markets, as we've so tragically experienced recently.
Capitalism needs limits because there is no limit to greed.
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Um... BP's spill was more the result of Regulators pushing drillers further off shore into deeper and more complex drilling operations than the result of greed.
The real greed was wanting oil but not wanting to ruin the views of beach front property on the gulf coast with easy to service oil rigs.
just saying.
Um...you need to read up more on this spill.
It was caused because a) the easy-to-reach stuff had all been had. That's why they had to go further offshore. Louisianans don't have any problem with oil rigs off their shores. Go down there, you can see them.
And b) this Gulf coast oil spill abomination was caused by BP being cheap, not doing what they should have to protect the drilling and coastline and their being irresponsible. You can Google it and find the reports easy enough.
To repeat, Capitalism--and corporations--need limits--regulations--because greed knows no limits.
I'm not saying there need to be useless or needless rules, paperwork or regulations at all.
The problems of the last couple years have proven we can't have a truly unfettered, utterly free, "free market society". See "banking crisis", etc., too.
So was it a lack of regulation or was it lack of oversight on existing regulations?
From the looks of it, there is already enough legislation and so, regulations on the books. It seems it was more a lack of oversight. The agency overseeing them was famously "in bed" with the oil companies, esp. in the past administration where they had parties together and sold pot to each other, etc., though that was shown to be done more in Colorado and not here.
So it wasn't a free market that failed, it was a regulated one? And the regulators failed?
Just trying to place blame where blame is due
The "free market" failed.
The regulators failed.
The oil company failed.
And we all lost.
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