In response to:

Keeping Business Honest

Eli17 Wrote: May 23, 2012 12:21 PM
Ok, but you haven't proved that government regulations actually stop fraud (i.e. the Countrywide and Bernie Madoff's of the world)???
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...