Discuss the idea of limiting the government’s interference in safety of consumer products?

Expert Solution

When government brings interference in the market, with respect to the safety of consumer products, then the government makes stringent laws that ensure that firms produce quality products to ensure the safety of consumers. Hence, government interference is very important to ensure than consumers remain safe and producer firms take necessary steps to ensure quality. Though, the government should not intervene to the level, when it starts discouraging to the firms and they leave the market. It happens, because firms find market to be unreasonably biased against them. It is due to the reason that government frames laws, constituting heavy penalties, jail terms and scope of manipulation at the end of consumers. So, excessive interference of the government is not advised. Rather, the responsibilities in some part should also go to the consumers in terms of proper method of use, age group recommended for use and necessary precautions and potential damages possible. These dimensions should be mentioned so that only genuine cases can make consumers sue the firm. It will bring a balance and firms find a good opportunity for investment and operate in the market of consumer products.

Rahul Sunny answered 2 months ago

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