Self regulation means that the correct ammount of products will be made and distributed, as making too much leads to losing money, and too little to not realizing the potential of the investment.
Other than that, you are not talking about the same sense of the word regulation.
I admit it’s not an authoritative source, but it demonstrates that the usage you are claiming doesn’t exist does in fact exist, at least to some extent. While your definition may well be what it means in certain limited contexts, it’s very obviously not the sense OP was using.
You’re mistaken, in this context it is when an industry or sector lobbies against governments regulating them, on the basis that’s it’s too complicated or expensive, and argues that they can do a better job themselves.
Because no reasonable person who defends the free market and self regulation would use it in that manner, and for that reason this becomes very strawman-y.
Says who? I’ve certainly argued with many that would use it in exactly that sense. They argue things like the FDA and EPA aren’t necessary because markets will self regulate due to losing customers if their actions are antithetical to what society wants (I’ve seen the same argument regarding why civil rights wasn’t necessary and that the market would drive racists out of business, despite years of… that not happening).
Definitely arguable whether libertarians are reasonable or not, but they absolutely do use it in this way. I know because I both argue with them and unfortunately I’m a recovering libertarian myself.
You’re incorrect here, self regulation in this context means letting the individual industries try to follow all sorts of laws/regulations on their own. For example, Boeing was allowed to self-regulate for some time (and they probably still are to some degree) meaning the FAA and other relevant government agencies were not doing things like inspections - they left a lot of it up to Boeing. Then Boeing had two 737 MAX crashes due to MCAS and a door panel blow off near Portland, OR
Because thats not what self regulation means?
Self regulation means that the correct ammount of products will be made and distributed, as making too much leads to losing money, and too little to not realizing the potential of the investment.
Other than that, you are not talking about the same sense of the word regulation.
I admit it’s not an authoritative source, but it demonstrates that the usage you are claiming doesn’t exist does in fact exist, at least to some extent. While your definition may well be what it means in certain limited contexts, it’s very obviously not the sense OP was using.
E: https://en.wikipedia.org/wiki/Industry_self-regulation
You’re mistaken, in this context it is when an industry or sector lobbies against governments regulating them, on the basis that’s it’s too complicated or expensive, and argues that they can do a better job themselves.
So what you’re saying is, you’re talking about another meaning of self regulation than the meme.
Why are you doing that?
Because no reasonable person who defends the free market and self regulation would use it in that manner, and for that reason this becomes very strawman-y.
Says who? I’ve certainly argued with many that would use it in exactly that sense. They argue things like the FDA and EPA aren’t necessary because markets will self regulate due to losing customers if their actions are antithetical to what society wants (I’ve seen the same argument regarding why civil rights wasn’t necessary and that the market would drive racists out of business, despite years of… that not happening).
Definitely arguable whether libertarians are reasonable or not, but they absolutely do use it in this way. I know because I both argue with them and unfortunately I’m a recovering libertarian myself.
You may be right there, but it is how a lot of politicians use it.
You’re incorrect here, self regulation in this context means letting the individual industries try to follow all sorts of laws/regulations on their own. For example, Boeing was allowed to self-regulate for some time (and they probably still are to some degree) meaning the FAA and other relevant government agencies were not doing things like inspections - they left a lot of it up to Boeing. Then Boeing had two 737 MAX crashes due to MCAS and a door panel blow off near Portland, OR