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Kuros
Joined: 27 Apr 2004
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 Posted: Fri Apr 13, 2012 12:34 pm Post subject: The Regulatory Failure Thread |
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This thread's purpose is to chronicle the failure of government regulation, and in some cases its intrusion.
Regulations fail in multiple ways:
(1) Regulations fail to prevent the problem they were designed to address
(2) Regulations become government capture, and are used by corporations and special interests to wall off liability
(3) Regulatory agencies alter their role or intent so as to reduce their effectiveness
(4) Regulations cost more than the damage or corruption they eliminate |
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Kuros
Joined: 27 Apr 2004
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| Posted: Fri Apr 13, 2012 12:37 pm Post subject: |
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H.R. 4345: Domestic Fuels Protection Act of 2012 is honest about its purpose. It intends:
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| To provide liability protection for claims based on the design, manufacture, sale, offer for sale, introduction into commerce, or use of certain fuels and fuel additives, and for other purposes. |
There are some E15 EPA restrictions the nine trade associations are validly pushing against. Nevertheless, the real purpose of this law is to deny a cause of action to those injured by qualified products and motor vehicles, provided the qualified products comply with EPA guidelines. Federalists should note that this Federal limitation on liability reaches into State and Local jurisdictions and curbs State and Local rights.
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SEC. 4. LIMITATION ON LIABILITY.
(a) Qualified Civil Liability Actions in Federal Court and State Court-
(1) IN GENERAL- No qualified civil liability action shall be filed or maintained in any court of the United States or any State court.
(2) DISMISSAL OF PENDING ACTIONS- Any qualified civil liability action filed or pending in any court of the United States or any State court on or after the date of enactment of this Act shall be dismissed with prejudice.
(b) Safe Harbor- Notwithstanding any Federal, State, or local law (including common law), no qualified product shall be considered to be a defective product, if the qualified product does not violate a control or prohibition, respecting any characteristic or component of the qualified product, imposed by the Administrator of the Environmental Protection Agency under section 211 of the Clean Air Act (42 U.S.C. 7545).
(c) Definitions- In this section:
(1) COVERED ENTITY- The term �covered entity� means any entity engaged in the design, manufacture, sale, or distribution of any--
(A) qualified product; or
(B) motor vehicle, motor vehicle engine, nonroad vehicle, nonroad engine, or nonroad equipment. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Fri Apr 13, 2012 1:09 pm Post subject: Re: The Regulatory Failure Thread |
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| Kuros wrote: |
| (2) Regulations become government capture, and are used by corporations and special interests to wall off liability |
And to achieve unfair trade advantages, and shut down competition. Nearly all monopolies or anti-competition cartels throughout American history were achieved this way (railroads, banking, telecommunications, big agro, big pharma, real estate, insurance, etc.).
By the turn of the 20th century firms like JP Morgan had tried desperately (and unsuccessfully) to form cartels in the free market (railroads etc.), but it was never achieved until government stepped into the picture and imposed regulations; always in the name of "protecting the public". This movement away from laissez-faire economics towards statism and cartelization was cemented with the creation of the Federal Reserve.
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| (4) Regulations cost more than the damage or corruption they eliminate |
Nearly always the case (in fact I can't think of a single case to the contrary)...
Here's a good one from the Daily Show the other day that really says it all:
http://www.thedailyshow.com/watch/thu-april-5-2012/gsa-holes |
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The Cosmic Hum
Joined: 09 May 2003
Location: Sonic Space
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| Posted: Fri Apr 13, 2012 10:17 pm Post subject: Re: The Regulatory Failure Thread |
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Yes...good one.  |
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