Enokh wrote:jareds wrote:No, we're disagreeing. Under our current system, there are many, many things which megacorporations are successfully dissuaded from doing. If someone operates an oil refinery, and faces no risk whatsoever if they discharge all their waste directly into the Mississippi river, why isn't the river being polluted wily-nilly? It's because you're fundamentally wrong: megacorporations are dissuaded by fines in reality, including many, many fines that are currently in place. Even when not dissuaded, they face risks. Otherwise, what the hell happened to BP?
You mean other than the mountains of bad press? Or how their stock value plummeted? Unless you've got something on how much BP has actually paid in fines/settlements -- and it's WAY bigger than I think it is -- I'm not inclined to believe that was BP's biggest punishment.
They apparently recently settled some litigation for $7.8 billion, which does not include any government fines (which will presumably be billions more). The fines and settlements don't have to be their biggest punishment: $7.8 billion is still plenty to state that it is false that they faced "no risk whatsoever" for their unsafe actions. BP was a counterexample to:
iamspen wrote:Under our current system, these companies face no risk whatsoever when they decide to act in ways that are illegal or unethical.