Companies merge, split up, get acquired, go bankrupt.
It's what they do, and there's nothing inherently dysfunctional about that. By themselves, these actions don't cause mines to collapse, plans to fall from the sky and highly polluting vehicles to be put on the road with full knowledge of the company's senior leadership. If there is a systemic cause for these things -- it's yawning gaps regulatory oversight (and enforcement).
But these gaps aren't accidents, and don't arise in a vacuum, either. Nor are they mere byproducts of what should otherwise by a working system.
In effect, they're there by design. They are exactly the desired outcomes of a system -- and the governing ideology behind it -- that enshrines the "right of capital" as a fundamental right. And which (not coincidentally) seeks to protect the exercises of this "right" from the inevitable consequences of their actions, as much as it can get away with doing so. With carnage and tragedy being the inevitable results.
It's what they do, and there's nothing inherently dysfunctional about that. By themselves, these actions don't cause mines to collapse, plans to fall from the sky and highly polluting vehicles to be put on the road with full knowledge of the company's senior leadership. If there is a systemic cause for these things -- it's yawning gaps regulatory oversight (and enforcement).
But these gaps aren't accidents, and don't arise in a vacuum, either. Nor are they mere byproducts of what should otherwise by a working system.
In effect, they're there by design. They are exactly the desired outcomes of a system -- and the governing ideology behind it -- that enshrines the "right of capital" as a fundamental right. And which (not coincidentally) seeks to protect the exercises of this "right" from the inevitable consequences of their actions, as much as it can get away with doing so. With carnage and tragedy being the inevitable results.
Because that's what it was designed to do.
https://en.wikipedia.org/wiki/Neoliberalism