In response to:

Keeping Business Honest

BLOFTY Wrote: May 23, 2012 7:16 AM
Of the "three crimes that must be policed, I would question fraud. Could not the free market take care of this as well?
janderson Wrote: May 23, 2012 10:12 AM
It is well to remember that Bernie Madoff survived two S.E.C. audits after they were alerted that he was running a Ponzi scheme. The S.E.C. gives the false impression that investors are being looked out for. THEY ARE NOT!
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...