> They may be imperfect, but they're a hell of a lot better than the alternative and have had a profound positive impact on our society.
No, it isn't better than the alternative. The alternative is to have regulators selected and overseen by elected officials regulate the behavior of companies. We instead of a system of regulation by self appointed ad hoc lawyer-regulators negotiating settlements they think will get past the judge overseeing their case and allow them to collect a fee.
The latter is perhaps better than nothing, but it isn't better than the alternative which happens to be in place in the rest of the developed world.
Regulators selected and overseen by elected officials aren't a foolproof solution either. Sometimes you end up with Scott Pruitt [1] running the EPA, whose objectives are apparently a) denying that climate change exists, and b) dismantling any environmental protections that businesses find inconvenient.
The self-appointed lawyer regulators at least have an incentive to do their jobs: they get a bunch of money.
If you believe democracy is for people. Then you are mistaken. Democracy simply means more than one entity fighting for power. Usually both of them have their own agendas and only give a shit when it’s time to vote. And we all know lying, backstabbing and spreading propaganda on Facebook and media channels is a much better way to win voters than doing what’s good for them.
The system was always a plutocracy and will always be.
No, it isn't better than the alternative. The alternative is to have regulators selected and overseen by elected officials regulate the behavior of companies. We instead of a system of regulation by self appointed ad hoc lawyer-regulators negotiating settlements they think will get past the judge overseeing their case and allow them to collect a fee.
The latter is perhaps better than nothing, but it isn't better than the alternative which happens to be in place in the rest of the developed world.