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Also, on the subject of safety in the free market, think Underwriters Laboratory and Consumer Reports. People don't want coffee makers that burst into flames o
by fexl 16y ago
Also, on the subject of safety in the free market, think Underwriters Laboratory and Consumer Reports. People don't want coffee makers that burst into flames or cars that roll over.
- krakensden 16y agoUnderwriters Laboratory and Consumer Reports seem like special cases. Don't most private quality control organizations go the way of Yelp, the BBB, the BSA, etc- questionable ratings and bad economic incentives?
- fexl 16y agoI'll go ahead and add Standard and Poor's, Moody's, the SEC, and the FDA to your list of bad examples, since poor quality and bad incentives can arise with either voluntary or coerced funding. But at least with voluntary funding you can take your business elsewhere, or even compete.