Ep. 7 - Who Protects the Consumer [6/7]. Milton Friedman's Free to Choose (1980)

[arjunbanerjee]

They didn't address a key point that most consumers are ill-equipped to determine the safety of many products. Without at least some minimal regulations, I wouldn't know whether my car or my cold medication, etc would be safe. From a utilitarian point of view, some regulations can increase consumer confidence and look out for the safety of layman consumers.