Day: October 24, 2007

Why regulation is not a bad thing.

Not always a fan of Monbiot, but this OP-ED piece on the government bailout of a British bank run by a libertarian intellectual contains in it, a passage that deserves to be framed.

Wherever modern humans, living outside the narrow social mores of the clan, are allowed to pursue their genetic interests without constraint, they will hurt other people. They will grab other people’s resources, they will dump their waste in other people’s habitats, they will cheat, lie, steal and kill. And if they have power and weapons, no one will be able to stop them except those with more power and better weapons. Our genetic inheritance makes us smart enough to see that when the old society breaks down, we should appease those who are more powerful than ourselves and exploit those who are less powerful. The survival strategies that once ensured cooperation among equals now ensure subservience to those who have broken the social contract.

Now, that is a cogent argument for regulation if I ever saw one.

(Via Nanopolitan.)