Question

The FDA tries to protect us as consumers. You may take for granted the changes they have enacted to protect us. For example, the surgeon general warning notices on the side of cigarettes... yup they came as a result of regulations to protect us.

Question: We have an extremely diverse class. Most of us are first generation immigrants, or have close ties to another country. Either way, think of a country which you love and have a close affiliation to (other than USA). Does your country have any laws and regulations that protect the consumer? If so, can you provide one as an example? If not, explain why your country does not have them.

Discuss: If you were a leader of a company going overseas, would you take advantage of weak protection laws or bring the stricter regulations into the country to guide your service or product in that country?

Answer 1

1) India is a country with strictly implemented consumer laws. The lawmakers have concentrated on protecting the consumers from the malpractices of the business firms. The law also establishes various consumer forums at the District, State, and National levels to enhance the courts' judgment. Consumer laws in India given exclusive rights to consumers. The first right is the right to information. The consumers have the right to know about the particular product or service, its price, features, and any drawback. The retailer should not hide any relevant facts. The second right is the right to safety. The seller should let the buyer know about the hazardous products in advance. The seller should take every possible step to protect the consumers. The next right is right to Redressal. The consumer has the right to approach the consumer forum in case of any conflict. No seller can prevent the buyer from reaching out to the courts. The next right is the right to be heard. The consumer has the right to tell his/her arguments in the court. Moreover, finally, the consumer has the right to compensation. The seller should provide compensation to the buyers for any loss that the buyer suffered. For instance, if the buyer bought adulterated food, he/she can go to the forum and sue the seller for compensation.

2) The main motive of a business is profit-making. The business leaders know how to find the legal system's drawbacks and twist the laws in their favor. In the case of weak laws, the businessmen try their best to misuse the laws. The country's government must implement the laws properly. For instance, in the case of FDI laws, the drawback is that the companies can also invest through the way of Foreign Portfolio Investments. It is how the company misuse the laws of a country.