Self-regulation is no regulation.
And no regulation leads to corruption.
This is what has happened in the world's business communities since deregulation was introduced in the 1980s by Margaret Thatcher and Ronald Reagan.
Following the ideas of F. A. Hayek they labelled all regulation of the economy as totalitarian Communism and therefore the work of the devil.
Their ideas were irrational from the beginning.
But the influence of their allies in the multi-national corporations ensured that their policies were lauded as the saviors of the world's economies.
40 years later these corporations are mired in corruption.
They steal land, exploit labor, avoid taxes, and incite wars.
They corrupt our politicians.
And they deny accountability.
All because of deregulation.
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