Titanic lifeboats and regulation
This is from Frankie (one of the main instigators behind the creation of the BoN), and was sparked by the Hindenburg post. "About the Titanic. It, infamously, didn’t have enough lifeboats. Why? One explanation seems to be because they did the minimum requirement – with no obvious reason to conduct their own research on what was possible or would be to their best advantage – the government regulatory body in the UK asked of them. Which was to have a certain number of boats per TONNAGE, not to account for lifeboats of the total number of passengers. Yet another classic example of the unintended consequences of regulation where government involvement obfuscates actors’ best interests and lulls everyone into a false sense of complacency just by its mere existence." Another interesting aspect to me about this is that the culprit is always said to be a lack of detailed enough, specific enough, and invasive enough regulation, rather than the existence of any regulation at all...