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this post was submitted on 20 Dec 2023
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So fines come with a requirement that a company can’t raise prices to recoup them?
Do you think companies aren't already pricing their products at the maximum they think the market can bear?
They are, that won’t stop them going higher.
This thinking was brought up to convince people not to hold companies accountable.
Make it cost. And if the company refuses to correct the behavior they shouldn't be allowed to operate. If there is no cost for bad behavior then said behavior becomes how you do business.
I'm not an opponent of fines, I just think they have no deterrence other than getting caught. Negligence at this level of public harm needs to carry jail time for the executives responsible for it.
Jail time would be outstanding honestly. I can get behind that.
Products are already priced at the point that will make them the most profits. That point doesn't magically change when fines happen.