84. Requiring businesses to provide complete product information to customers
promotes various consumer interests, but at the same time imposes burdens on
businesses, government, and taxpayers. On balance, the burdens outweigh the benefits,
at least in most cases.
A threshold problem with disclosure requirements is that of determining what
constitutes complete information. Admittedly, legislating disclosure requirements
clarifies the duties of business and the rights of consumers. Yet determining what
requirements are fair in all cases is problematic. Should it suffice to list ingredients,
instructions, and intended uses, or should customers also be informed of precise
specifications, potential risks, and results of tests measuring a products effectiveness
vis-a-vis competing products? A closely related problem is that determining and
enforcing disclosure standards necessarily involves government regulation, thereby
adding to the ultimate cost to the consumer by way of higher taxes. Finally, failure to
comply may result in regulatory fines, a cost that may either have a chilling effect on
product innovation or be passed on to the customers in the form of higher prices. Either
result operates to the detriment of the consumer, the very party whom the regulations
are designed to protect.
These burdens must be weighed against the interest in protecting consumers
against fraud and undue health and safety hazards. To assume that businesses will
voluntarily disclose negative product information ignores the fact that businesses are
motivated by profit, not by public interest concerns. However, consumers today have
ready access to many consumer-protection resources, and may not need the protection
of government regulation. Although health and safety concerns are especially
compelling in the case of products that are inherently dangerous―power tools,
recreational equipment, and the like―or new and relatively untested products,
especially pharmaceuticals, narrow exceptions can always be carved out for these
products.
In conclusion, while stringent disclosure requirements may be appropriate for
certain products, businesses and consumers alike are generally better off without the
burdens imposed by requiring that businesses provide complete product information to
all customers.
美国新冠感染病例居高不下 高校担忧国际生源流失
首次面向普通高校毕业生直招士官 涉及外语等多个专业
每日一词∣失业保险返还 unemployment insurance premium refunds
体坛英语资讯:Chinese football star Wu Lei denies re-testing negative for COVID-19
My Father(我的爸爸)
一颗小行星刚刚近距离划过地球,比月亮还近
体坛英语资讯:China womens team announces 23-player squad for Olympic qualification playoffs
How to Help Old People Live Better 如何帮助老年人生活得更好
体坛英语资讯:United World Wrestling supports Tokyo2020 postponement
国内英语资讯:China drafting law on personal information protection
Future Robot(未来的机器人)
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介绍航天英雄杨利伟
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Prepare for the Chinese New Year(为春节做准备)
世界卫生组织警告:新冠病毒可能永远不会消失
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My brother(我的哥哥)
OMG!贝克汉姆“秃”如其来,男神遭遇了什么?
Window of opportunity 稍纵即逝的好机会
全国已有超1亿学生返校复课 复学比例近四成
美文赏析:你是否曾经……
理财必看的72法则
学生是否谈恋爱
My Teacher(我的老师)
国内英语资讯:Chinese FM holds phone talks with Hungary, BiH, Estonia counterparts over COVID-19
今年两会将创新听取代表和委员意见建议的方式
体坛英语资讯:Adebayor travels to Togo amid Paraguay lockdown
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