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« The Year Begins with New and Important Work | Main | Davd C. Jones on the Mining Tragedy »

January 04, 2006

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David C. Jones

There are two peripheral but important aspects to the mining disaster. Firstly, the safety regulations have been (a) watered down, by the current (Bush)adminstration; and, (b) even when enforced the fines levied are laughable as to their silliness for purposes of punishment or (more importantly) deterrence. Secondly, the mining company has been bankrupted more than once and I saw reference to the fact that the relevant accounting charges are no longer being made for the capital equipment. There should be charges against the profits as provisions for renewal or replacement of old equipment. There are probably a lot of other understatements of financial obligation. We are told by the economics gurus that "The Consumer is King"! (in this case the consumer is the power industry OR "we have seen the enemy and it is US!" (it means either US (as in "we") or US (as in Uncle Sam).

I have a different take on so many of these matters. It is that "The Consumer is Queen!". This stands for "Quality Undemines Economic Equilibrium Neutrality." In other words, the supply and demand are equated at an "equilibrium point" that sets the price. BUT Quality - including health and safety - costs money, so profits will (probably) be reduced as costs increase and less is sold at a higher price! That, of course, in a profit-maximizing capitalist economy is a no-no. Hence the essential need for regulation! But - where is it? Gone, as a sop to the rich and powerful interests that urge that regulation diminishes competitiveness! So it does! Thus, we need to elect people who really do care, deeply, about how many are killed or injured (Iraq? Sago Mine? etc.) in the pursuit of profit for the rich and powerful.

The words - common in the justice system - have now come true. Justice (and Right - to Life, Liberty and the Pursuit of Happiness) DeLayed (as in Tom) is justice denied!

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