If enough people care about quality, then there will be a market opportunity for a premium product. Eventually, once this market opportunity gets big enough, on

If enough people care about quality, then there will be a market opportunity for a premium product. Eventually, once this market opportunity gets big enough, one or more companies will try to make a better product at a higher price with higher margins. This might happen slowly, though you can count on the promise of high profit margins to make it happen sooner or later. Of course, there are areas where we do have regulation, particularly when it comes to safety of products. This is a good option in many cases, though in many cases it would also be very difficult to define and enforce standards. And there can be market problems such as oligopolies or monopolies that prevent robust competition from happening. In those cases, it can be up to antitrust regulators to correct the market.