The old joke is "Communism is an amazing system, it's a shame no one has ever tried it" - in reference to the fact that Communism in places like the USSR wasn't really what the original proposers of it as an idea where suggesting.
I think the same applies to libertarianism, it sounds good and clean but in reality human systems are like humans, messy chaotic and fickle.
I think when it comes to regulation of a company you need the carrot and the stick, the carrot is "good PR and been seen to be a good corporate citizen that treats staff well results in betters sales" and the stick is "If you break the law their will be consequences and these are the laws".
The problem with western markets (at least in my country (the UK)) is that we've moved away from the stick towards the US model of laissez-fair capitalism.
Of course people then make the argument "Well the US model can't be that broken, it's the number one economy in the world" without considering the last century historically.
The US is a massive economy but it also didn't get trashed in two world wars that nearly bankrupted it and was ideally placed to capitalize on them, it had all the advantages of the late industrial revolution/western civilization and vast amounts of resources.
It would have been hard for it's economy not to succeed.
I think the same applies to libertarianism, it sounds good and clean but in reality human systems are like humans, messy chaotic and fickle.
I think when it comes to regulation of a company you need the carrot and the stick, the carrot is "good PR and been seen to be a good corporate citizen that treats staff well results in betters sales" and the stick is "If you break the law their will be consequences and these are the laws".
The problem with western markets (at least in my country (the UK)) is that we've moved away from the stick towards the US model of laissez-fair capitalism.
Of course people then make the argument "Well the US model can't be that broken, it's the number one economy in the world" without considering the last century historically.
The US is a massive economy but it also didn't get trashed in two world wars that nearly bankrupted it and was ideally placed to capitalize on them, it had all the advantages of the late industrial revolution/western civilization and vast amounts of resources.
It would have been hard for it's economy not to succeed.