4 ms·
I guess all the class action law suits are the free market way or regulating this? Not sure how efficient that is but at least there's some kind of pain for ly
by cityandtech 10y ago
I guess all the class action law suits are the free market way or regulating this? Not sure how efficient that is but at least there's some kind of pain for lying on ingredient lists.
- yarper 10y agoMost countries don't have class action lawsuits (at all). So it's not really a free market way of doing things.
- finid 10y agoThe folks you really have to pity are those in Africa and South America and other areas of planet Earth that receive those products where their citizens can't sue these companies. They might not even be aware of a product-recall, if any.
- eric_h 10y agoShould the warehouses full of the products from TFA actually be recalled, I wonder where they'll end up...
- nommm-nommm 10y agoProduct recalls are usually done by the government in the US. The CFPB in the US.
- nickik 10y agoI don't understand your point. How does 'most countries' have any relevancy for what 'the free market way' of doing something is? Most countries are not and don't claim to be 'free market' countries. Those that advocate free markets usually also advocate changes in the legal system.
- nickik 10y agoLegal scholars have many solutions for this kind of stuff. Libertarians have actually spend a lot of time and effort studying this stuff, because its so relevant for free market systems. Consider this easy idea, you can sell your claims. In a case (non harmful wrong labeling) such as this, you sell your claim for 10$ and then you don't have to care anymore. Some bigger buyer of this stuff can buy the claims and fight the lawsuit. This is simple and effective. Also, this is not a new idea, its very old idea that has been done in many places. It performs quite well historically.