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Keeping Business Honest

bajaretired Wrote: May 23, 2012 1:06 PM
Surely if one were to need heart surgery it would be done in a hospital and surely the hospital would vet any potential surgeon. No?
Jeff P Wrote: May 23, 2012 4:24 PM
Cardiac surgeons aren't licensed by the govt as such. THey to have to become a licensed physician, but the surgery part and the cardiac surgery part are credentials from the private sector.
Instinctively, we look for people's motives. We need to know whom we can trust and whom we can't. We're especially skeptical of business because we know business wants our money.

It took me too long to understand that business's desire for profit is a good thing. To get our money, businesses -- if they can't look to the government for favors -- need to give us what we want. Then they must make continuous improvements and do it better than the competition does.

That competition is enough to protect consumers. But that's not intuitive. It's intuitive to assume that competition isn't...