A Dangerous Monopoly
It’s a fact that everyone wants the products they buy to be safe to consume or use. So what is the safest route–the free-market system or a government-run program? Professor Howard Baetjer, of Towson University, explains that under the free-market system, competition among certification firms allows the process to work as it should and prevents under- or over-testing. And the firms have no monopoly. On the other hand, government holds a monopoly on safety standards that may result in over- or under-testing of products. “A monopoly government agency faces no check on this kind of caution,” says Baetjer. “If an agency rejects a product that’s safe, or takes years for additional tests, the manufacturer cannot turn to another certifier. No other certifiers are permitted.” Listen to the rest of Professor Baetjer’s case for a free-market system.
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