I own a business, a small business mind you that has yet to turn a profit but I am a business owner and I've been working 60 hours a week trying to build it to be successful.
There is this very negative stereotype about corporations and how evil they are and how we need to regulate them like crazy.
Let's take a huge corporation like google, google is a company I despise. I won't give my reasons here because it's irrelevant. But because I dislike them, I have removed them from my life. I don't use google for anything. I even adblock youtube on my phone and computer. (Sorry content creators)
When google does something bad people want regulations, instead of removing them from their life.
When you have a bad friend you don't ask the government to make them stop doing something. You tell them stop and when they won't you end the friendship. Companies are people the more you support bad business practices the more you will see of them. Regulations just allow bad people to stay in business, when you make it so a business can't destroy itself you ruin the concept of a free market.
My point being corporations are people, and just like people instead of asking the government to make them a good friend, you find a better friend. Theres so many small businesses out there that believe in treating people right, but it's hard for them to grow as we put more and more regulations on things. Where I'm from they've made a new rule on licenses for crane operators over a certain weight limit. It's not some license that you go take some simple test for, it's thousands of dollars per person. This means most small crane businesses won't be afford to run anymore, and definitely new businesses won't be able to be started.
This is sorta just my stream of thoughts on the subject.
Corporations are not people.
People have responsibilities and can be held responsible for their actions. A corporations only duty is to profit, by any means.
A market is not regulated by consumers. Consumers will go with the cheapest/easiest option. The educated consumer you speak of is a myth. Take Equifax as an example, they leaked millions of peoples information, but will continue to operate fine, and will not make any adjustments to their practices except what they are regulated to change. Free-market can't stop them.
An unrestricted free-market has always led to monopolies and abuse. No exceptions.
Every successful market has been regulated.
When that bad friend gets out of line and begins to hurt people, yes you do call the government. The police division.
But they are not. They have different need, goals, and responsibilities. A corp. is made from people, but isn't one.
We have laws to say what is acceptable behaviour from humans, why wouldn't we have the same for corps.?
Over-regulation is a not a reason to get rid of all regulation.
Cranes are incredibly dangerous. They fall over every day, even with a high rate of regulation. Take a look at crane statistics in unregulated states, they are killers. Not just the operators, but bystanders getting killed.
Have you seen the electric grid and other infrastructure in unregulated countries? I think you might change your mind if you did.
Crane operators don't pay those fees (unless they are independents who own their business) the company they work for does.
That's not a lot of money for a crane outfit.