In responding to my last post “The Triangle Waistshirt Fire,” one commentor assured me that the market is self-correcting and capable of protecting workers and the public. He raised the example of the Crandall Canyon mine disaster, suggesting that the the owner (Robert Murray) will somehow get his just desserts in the end. Perhaps he will. No mention was made of how the market will play a role in this, but no matter.
Ironically, today The Salt Lake Tribune reported on the status of the disaster fallout.
Crandall Canyon widow Wendy Black minced no words last September when she told a Senate committee: “It would have taken just one MSHA man doing his job to have saved my husband’s life.”
Her bitterness over the federal Mine Safety and Health Administration’s perceived failure to enforce laws protecting miners was reinforced Monday by an internal Labor Department audit that found local, regional and national deficiencies in MSHA’s handling of Crandall Canyon’s roof control plan (“Crandall: Labor audit confirms families’ fears”).
Sounds like any penalty or market “self correction” consequences Murray pays will be rather cold comfort to widows and fatherless children—not to mention the dead themselves.
It is worth noting that the Triangle Shirtwaist Company owners suffered no consequences for their disregard for the lives of their workers. With few prior regulations fully spelling out their responsibilities, they got off scott free. In fact, with the fire insurance payments, they made a tidy profit from the deaths of almost 150 people. Justice is supposed to be blind, but the illustrious market was apparently also deaf to the cries of the victims.
Also inspired by the Tribune’s article, Oldenburg of 3rd Avenue has written a fine post about the essential need not only for regulation, but for government to be committed to enforcing the regulation—something we’ve lacked for quite some time.