Howard Covitz on Caveat Emptor
This one is by Howard Covitz…
One of the boons of a free market economy is all the choices we have as consumers. Some say it is a bit overwhelming. (Johny Johannson does a nice presentation of this from the pro-business point of view in his book In Your Face.) We are taught Caveat Emptor is the basis of US Law. However, I think Caveat Emptor is a bit outdated given the modern marketplace. I will not even mention lead toys from China…oops, I did.
Given this, I was sickened to be reminded of the demise of the Consumer Products Safety Commission.
This one was by Howard Covitz. I think this works as a nice follow-up to Dan’s piece yesterday on transparency in the markets.