You know it is bad when industry is asking for regulation. Here is an article about how many industries are suffering because of a lack of regulation. It is not altruistic of industry to demand regulation. It is a combination of trying to game the system, prevent worse regulation, avoid the liability of bad products and competitive pressure from imports that have little or no regulation.
It just goes to show that ensuring the safety of products is good for business. Sure it is a pain for companies at times and the government gets it wrong sometimes. The simple fact is that as people lose faith in the safety of the products they buy, they will buy less and scrutinize more. Part of the government's job, in my opinion, is to employ experts that know which ingredients and chemicals are dangerous and keep them out of our products. I like the idea of having a group of people that just think about the dangers of various products and help us avoid them. To me, that is a good use of tax dollars.
I have been talking about helmet laws a lot lately, here is the thing, I always wear a helmet, but I want to be able to trust that the helmet was manufactured properly. I cannot do it alone, it requires regulation.
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or certification, which can and is often done privately.
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