On Profit, Deregulation and Discipline

Profit at any and all costs is a concern for me. In my opinion, such thinking lacks discipline. Deregulation to increase profits lacks not only discipline but also morals. When millionaires like Mitt Romney or Warren Buffet are taxed less than their secretaries, I think something is wrong: new and serious regulations should be introduced.

I am sure we can all agree that we need some rules and regulations when we as people try to live communally in societies. That is why I suppose we have laws, by-laws and such. We can do many things in Life but just because we can do something, it does not mean that we necessarily have to do that something.

When some people are only interested in making a profit and not at all in what the outcome of their actions will result in, I think everyone ends-up paying the price. We can think of those who died and the oil which spilled and devastated the lives of countless people on the south-eastern coast of the United States not long ago. In its quest to maximize profits, British Petroleum affected quite negatively not only the environment but also the lives of those who lived in that region. Cutting costs to make more and more profit cannot keep going to infinity without concerning consequences. Just because it can happen, it does not mean it should.

A few years ago, the financial system almost collapsed due to bankers gambling with people’s money. The banks were not allowed to collapse (taxpayers had to pay and are still paying, to bail them out), even though they clearly showed that in their chase for profits at any cost, they managed to nearly crash the entire system and they became failed businesses. The addiction to profit became too intense – the result was people losing their homes, their investments … their livelihoods. All this was the result of deregulation, greed and no discipline.

Just because I can lend money to someone at thirty percent interest, does not mean that I should. Just because I can sell a pair of running shoes and make three hundred percent profit, does not mean that I should. Just because I can go out on the street and rob someone, does it mean that I should? I could do many things but discipline helps me think twice. What will the result of my actions be? That always has to be in my mind before I take a decision.

How can some people still argue that deregulation is good? The banks that were too big to fail a few years ago are even bigger now. Their profits are soaring as the majority of people are struggling to make ends meet. The main international banks are worth more and more by the year and when they will fail (eventually they will because the debt system is not sustainable), the outcome will be felt world-wide. We have come to this point, in my opinion because we have given-up on discipline. When discipline was flung-out the door, greed, selfishness and corruption moved-in. I think it is time to reintroduce discipline, responsibility and accountability as soon as possible, to minimize the damage done. This is just my opinion.


Just because I want to, it don’t mean I will

And just because I’m angry, it don’t mean I kill” – Gang Starr, “Discipline"

Note: My photograph, Timmins, Ontario, Canada, 2010

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Comments 12 comments

Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

Sorry to anyone who wanted to leave a comment on this article but could not ... I forgot to add the comment capsule ...

Thank You Mrs. Theresa (Phdast7) for emailing me about this.

Cheers!


phdast7 profile image

phdast7 4 years ago from Atlanta, Georgia

White Wolf - Excellent and nuanced examination of these important issues. Discipline, as in an individual life, is equally necessary to the life of a nation and society. Thank you.


Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

Greetings Mrs. Theresa,

thank You for stopping-by and sharing your perspective. Discipline is indeed needed when we see all the corruption and greed within our societies. I am not sure what else can clean-up our messy socio-political system ...

All the best!


Hedocurus profile image

Hedocurus 4 years ago from Olive Branch, MS

Well said. The ethical concerns of finance and greed to to seldom examined. Of particular concern is the gospel of the almighty dollar that is so popular with today's Xtians.


JayeWisdom profile image

JayeWisdom 4 years ago from Deep South, USA

This is an excellent hub about a critical issue. The pursuit of "extreme" profits regardless of the "cost" to our society (also known as "corporate greed") is--or should be--one of the present's major concerns. It's too bad the politicos don't seem to learn anything from history, particularly from those civilizations that failed. We seem to be on a downward spiral....


Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

I agree with You, Mr. Hedocurus: money has become the end of all things for some reason. It is really insane, in my opinion.

Thank You for the visit.

Cheers!


Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

"It's too bad the politicos don't seem to learn anything from history, particularly from those civilizations that failed." - I must admit that it does concern me that most politicians are lawyers and not political science graduates or history for that matter. Being a politician nowadays does not require much except an ability to lie and be persuasive, no matter what the topic is.

Thank You for taking the time to read and comment, Mrs. JayeWisdom.


fpherj48 profile image

fpherj48 4 years ago from Beautiful Upstate New York

Mr. Happy....Oh that being a good liar and persuasive scammer were the ONLY lack of ethics and morals of our politicians!!!


Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

Thank You for taking the time to read and comment, Mrs. Fpherj48.

I agree, most politicians need to do some studies in ethics and morals. There are conflicts of interest happening almost on a regular basis. Even here in Toronto now, the mayor might lose his job. We'll see when the trial ends ...

“The time is out of joint: O cursed spite / That ever I was born to set it right!” - Hamlet

All the best! : )


peoplepower73 profile image

peoplepower73 4 years ago from Placentia California

When corportions don't care about the consequences of their actions and it affects parties that were not involved in the transaction, it's call externality. If a corporation decides to use coal for their power generation, the negative externality is pollution. People become ill from the pollution, but they had nothing to do with the decision making. Deregulation works the same way. The financial meltdown was a direct effect of the deregulaton of the Glass Stegal act. Since 1933, this act prevented commercial banks from merging with investment companies. The final result of this was that financial markets collapsed while the CEO's and executiives of Wall Street walked away with huge commisions that were paid for by TARP which is tax payers money.


phdast7 profile image

phdast7 4 years ago from Atlanta, Georgia

WhiteWolf -- I know its not my hub, but I am both interested in, and have an interest in, this discussion and in how our country is managed or mismanaged. Thank you for providing us this platform for discussion.

peoplepower, thank you for framing this in another easy to understand way. I shall be talking with my college students and my friends about the fact that some regulation is both necessary and good, because it limits "negative externalities." Thank you for providing me with the language necessary to discuss these issues.


Mr. Happy profile image

Mr. Happy 4 years ago from Toronto, Canada Author

You are always welcome, Mrs. Theresa!

Thank You very much for the support, the sharing of this article and the thoughtful discussions.

Cheers!

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