4 ms·

No, this is an example of why government regulation is important.

Broken_Hippo 10y ago
I was about to comment the same. It isn't like everyone in any one country or restricted area is honest nor does everyone have the means to verify the contents of every item they purchase.
british_india 10y ago
Exactly. Regulation does not come out of thin air--but in response to abuses. Complaining about regulation in the abstract is akin to bank robbers complaining about the laws against bank robbery.
- givinguflac 10y ago
  "Complaining about regulation in the abstract is akin to bank robbers complaining about the laws against bank robbery." Amazing analogy, and unfortunately all too close to reality for many companies fighting reasonable regulations. Disclaimer: Not all companies fighting certain regulations are crooks.
  - delecti 10y ago
    And in cases where the company fighting against regulation aren't crooks, the people fighting for them likely are.
carsongross 10y ago
I don't see the two as mutually exclusive.
finid 10y ago
If you support regulations in cases like this, you're not going to enjoy the next 4-8 years in the USA. We just voted the anti-regulation group in power. God help America!
theseadroid 10y ago
No, this is an example of why government regulation and free market economic are important. In places where there's fierce competition, a scandal like this will cost the player to lost the battle against other competitors, so deregulate those markets to boost competition. In places where competition is not possible by reasons other than regulations, government should regulate the shit of the industry. However, US is heading to a place where most markets are gonna be dominated by monopolies yet the regulations not be there.
- chillacy 10y ago
  But isn't this the ultimate commodity? I understand that reasoning in heavily regulated industries like drugs, where high costs of development encourage monopolies. But the cosmetic industry is poorly regulated already.
Gustomaximus 10y ago
And enforcement. Often the regulation is there but the enforcement is lacking. While companies should be fined, but there always seems ot be a lack of individual accountability and repercussion for people responsible.

I was about to comment the same. It isn't like everyone in any one country or restricted area is honest nor does everyone have the means to verify the contents of every item they purchase.

british_india 10y ago

Exactly. Regulation does not come out of thin air--but in response to abuses. Complaining about regulation in the abstract is akin to bank robbers complaining about the laws against bank robbery.

givinguflac 10y ago
"Complaining about regulation in the abstract is akin to bank robbers complaining about the laws against bank robbery." Amazing analogy, and unfortunately all too close to reality for many companies fighting reasonable regulations. Disclaimer: Not all companies fighting certain regulations are crooks.
- delecti 10y ago
  And in cases where the company fighting against regulation aren't crooks, the people fighting for them likely are.

carsongross 10y ago

I don't see the two as mutually exclusive.

finid 10y ago

If you support regulations in cases like this, you're not going to enjoy the next 4-8 years in the USA. We just voted the anti-regulation group in power. God help America!

theseadroid 10y ago

No, this is an example of why government regulation and free market economic are important. In places where there's fierce competition, a scandal like this will cost the player to lost the battle against other competitors, so deregulate those markets to boost competition. In places where competition is not possible by reasons other than regulations, government should regulate the shit of the industry. However, US is heading to a place where most markets are gonna be dominated by monopolies yet the regulations not be there.

chillacy 10y ago
But isn't this the ultimate commodity? I understand that reasoning in heavily regulated industries like drugs, where high costs of development encourage monopolies. But the cosmetic industry is poorly regulated already.

Gustomaximus 10y ago

And enforcement. Often the regulation is there but the enforcement is lacking. While companies should be fined, but there always seems ot be a lack of individual accountability and repercussion for people responsible.