26 April 2007

The invisible hand of the market....

...meets the invisible hand of the regulator and all is well. The US government's Occupational Safety and Health Administration (OSHA), charged as its name suggests with monitoring and ensuring employee safety, is more or less shutting itself down and allowing industry to "self-regulate" except in extraordinary cases. Of course the health and safety of workers has not been affected favourably by this unannounced shift but profits and share prices probably are.

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