Quote:
Originally Posted by Weiser Wonder
Isn't this a good argument against capitalism? If business will always and forever seek higher profits, shouldn't there be massive controls in place to maintain the interests of the people? Unless you argue that the best interests of big business always line up with the best interest of the people, which would be absurd given the situation in the US.
The only logical conclusion is that government needs to be there to enforce regulation. Heavy regulation at that, otherwise you'll have a society based around maximizing profits. Which seems untenable in a society that maintains that each individual has the right to life.
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Actually, I don't like the world 'heavy regulation.' It implies that banks will not be able to maximize profits, and will be stuck under the clout of government red tape. That is entirely not the case with 'proper' regulation, such as we have here in Canada.
Why do I say that? Because our banks are all doing very well, and have all posted very good profits this last quarter of 2010.