Dinner Party Politics

A few years ago at a dinner party the discussion turned to politics. I can't remember what triggered it, but I asked a longtime and dear friend if, left unregulated, he thought businesses will always do the right thing, whatever that means. With no hesitation he said, "Yes." This was before the banking meltdown. And, of course, the Gulf oil disaster was unimaginable then. Still is. But even without those two examples to use, a couple of us could tick off a laundry list of businesses and industries that knowingly or stupidly did great harm to the public, while trying to protect the value of their images and their stock value. He simply rejected that information, and stayed with his view that business will act in the interests of the general good with no regulation.

It wasn't until I read Jonah Lehrer's book, How We Decide, that I could understand that sort of very human, but tortured, reasoning.

Now, I have to turn my head away from the screen when newscasts show oily birds, dead fish and the incredible sadness on the faces of the people caught in this tragedy. And I think about the government regulations that didn't work in this instance. I think about all the money and lobbying devoted to keeping all regulations as loose as possible. And about how most regulatory bodies are filled with people from the very industries they are supposed to regulate.

The three-and-a-half of you who read this blog know how ridiculously optimistic I am. But on the issue of government regulations, I am pessimistic. Cynical. There will be reaction to the oil tragedy. There will be tightened regulations. But it won't take long. The regulators and the rules will be manipulated, and it will be business as usual again.