The rescue of the Chilean miners was no doubt the feel-good story of the year.  It was a story of human resilience, bravery, family love and human ingenuity. Just when a reunion between family members couldn't seem more heartwarming and triumphant, along came another one. 

Not to take anything away from this amazing story, but the ecstatic joy of those reunions should not overwhelm the fact that the collapse itself did need to happen. Now that the dust has settled, it's time to look at the causes of the mine collapse and how these things can be prevented in the future.
Here's a list of ten questions about the Chilean mine collapse raised by University of Michigan history professor Juan Cole that may give you some pause about the whole affair.  Like the BP oil spill, this was another case of a company cutting corners, which put its employees at risk.  According to the Sydney Morning Herald, the mine company may be guilty of criminal negligence:

"Families of the 33 trapped miners awaiting a months-long rescue bid filed Thursday what could be the first of many lawsuits accusing the mine owner of criminal negligence.

San Esteban Mining, the owner of the gold and copper shaft in northern Chile, was also ordered by a local judge to freeze 1.8 million US dollars in revenue so that it can pay future compensation to 26 of the families."

As it says in the article, many of the miners are suffering from symptoms of post-traumatic stress.  What was so amazing about the rescue was how each miner appeared healthy and in good spirits, however, they may have long-term psychological effects--which is why it is so important to hold the mine company accountable and not have the feel-good side of the story overwhelm the fact that the mine implosion could have been prevented.

The issue makes this op-ed in the Wall St. Journal particularly strange as Daniel Henniger asserts that "Capitalism Saved the Miners:"

"It needs to be said. The rescue of the Chilean miners is a smashing victory for free-market capitalism...

If those miners had been trapped a half-mile down like this 25 years ago anywhere on earth, they would be dead. What happened over the past 25 years that meant the difference between life and death for those men?  Short answer: the Center Rock drill bit.

This is the miracle bit that drilled down to the trapped miners. Center Rock Inc. is a private company in Berlin, Pa. It has 74 employees. The drill's rig came from Schramm Inc. in West Chester, Pa. Seeing the disaster, Center Rock's president, Brandon Fisher, called the Chileans to offer his drill. Chile accepted. The miners are alive."

We here at Savings have nothing against free market capitalism (obviously--Savings.com is a free market capitalism engine...), but suggesting the miners successful rescue is a result of free market capitalism without mentioning how the mine may have collapsed because of the same system seems like a pretty big oversight.

As mentioned, the human ingenuity in saving the miners was awesome.  But the lack of regulatory oversight, or downright negligence, was also a factor.  Now that there's another mine accident in China, this issue needs to be examined. Mining is inherently dangerous and accidents do happen, but some of these accidents are due to outright negligence so that can't be overlooked.

Let's end on a good note though.  Did you watch the mine rescue--were you glued to all 33 rescues, plus the rescuers?  I certainly was. It was really beautiful--but there was a lot more going on than was often reported.