[... snip ...]
... Reasonable precaution means spending as much on safety as the probability of a particular disaster occurring, multiplied by its likely harm to human beings and the environment if it does occur.
Here’s the problem. Profit-making corporations have every incentive to underestimate these probabilities and lowball the likely harms.
This is why it’s necessary to have such things as government regulators, why regulators must be independent of the industries they regulate, and why regulators need enough resources to enforce the regulations.
Saturday, March 19, 2011
Robert Reich: "With Nuclear Reactors, You Get What You Pay For"
Posted by Abi. Posted at 9:58 AM