Public Safety = Private Danger?

The editor of the Libertarian Republic Austin Petersen joined Thom Hartmann on his show to debate the role of regulations in the fertilizer plant explosion that occurred last week. Hartmann argues that a hyper-regulatory state would solve all of our problems, while Petersen contends that more regulations wouldn’t have saved any lives in this scenario.

The event might have been less disastrous if the government had not decided to build a school or a nursing home next to the plant. But the faith in central planners from people like Hartmann arguably puts more lives in danger. Why? Because trust in an all-powerful institution to take care of our security is the same attitude that allowed 9/11, the Boston Bombings and other major disasters to occur. When citizens and their insurance companies work together to mitigate risk, the risks of catastrophic events is more likely to decrease. But when the government is responsible for people’s safety, then no one feels responsible. And with the fact that there were multiple redundant agencies of the government responsible for regulating the fertilizer plant, it is absolutely arguable that the bureaucracy of the federal government is responsible for many of the lives of those killed.

What do you think? Would more regulations have solved anything? Video below is 5:14