I always got into similar arguments with a libertarian relative — who also considered himself a good Catholic. From Ed at Gin and Tacos:
I am thrilled that the government regulates the living shit out of every aspect of my present endeavor, from mandating certified training for the mechanics to capping the number of hours pilots can fly in a day to putting the aircraft through regular safety inspections to regulating the process of air traffic control to resisting calls to privatize airport security. None of this is “free market.” It is the result of government meddling.
The good libertarian relies on the free market to solve problems on its own. Take a couple of hamburger chains, for instance. The one that makes bad food will go out of business. Customers won’t eat there! Thus the market, left alone, will punish those who fail to provide what people want. How cute. Let’s leave the airline industry alone – bust the unions, abandon all regulation, let the market set whatever wage it will, let the pilots be on for 36 hours at a crack – and let the same process go to work. Markets will force airlines to keep their planes safe, otherwise no one will pay to fly with them!
In order for the market to punish the backsliders, consumers must be made aware that Airline X is unsafe. Since we don’t have regulations and inspections, how will we know? Well, look up. We will know which airlines shirk on maintenance and safety when we see their planes plunging out of the sky. Here’s where my Mises Institute friends come in.
As market acolytes, I believe that they should volunteer to be on the plane(s) that serve the purpose of communicating this essential information to all of us. In the airline industry, the market’s way of telling us who is inferior involves a lot of people dying. The system works really well – let airlines be, see who fails, and punish them with one’s wallet – for everyone except the people on the plane.
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