> collective action problems where coordination benefits every company in a way that individual action wouldn't
Remember we are talking about Capitalist corporations that answer to investors.
Your point is great if there is an incentive to only benefit the consumer. The benefit in this case is to maximize profit at all cost. Profit creed(not greed) is to ingrained the need to maximize profit. Because of that, greed is the ultimate driver against achieving 'self regulation', hence the reason why we have gov regulations in the first place.
Remember we are talking about Capitalist corporations that answer to investors.
Your point is great if there is an incentive to only benefit the consumer. The benefit in this case is to maximize profit at all cost. Profit creed(not greed) is to ingrained the need to maximize profit. Because of that, greed is the ultimate driver against achieving 'self regulation', hence the reason why we have gov regulations in the first place.