Re: In the soup
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The profit maximization objective is not the right tool to decide what ride is safe for my child,
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Why don't you decide what is safe for your child?
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who is qualified to fly an airplane,
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Don't fly on a plane with poorly qualified pilots. (I have a feeling that imcompetant piloting would get some costly bad reviews rather quickly)
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or which car has priority in an intersection.
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Right, because you assume incorrectly that private roads would be unregulated. You don't think there's a demand to enforce some basic safe driving laws, if they are in fact a problem?
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When you are comparing tools, you have to consider the tools' inherent functionality (objectives) first and foremost.
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The functionality of Soviet Communism was to create a welfare state to establish equality and eventually provide peace and happiness in the Marxist utopia. Pity it forgot to think about incentives. The fact is, there's an organization (the FDA) run by human beings; fallible, and easily corruptible. It cannot go out of business or lose to competition. What are their incentives to provide a careful service? Good will? HAH!
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