We advocate the use of private civil litigation, as opposed to regulation by government agencies, to combat product mislabeling, misrepresentation, and default of contract. The right to produce and purchase products and services must not be restricted by law.
Regulations intended to protect consumers have often had the opposite effect, since government rarely knows as much about consumers’ needs as they do. So-called consumer protection laws are often used by established businesses to stifle innovative rivals. In addition, such laws have caused considerable harm by lulling consumers into assuming that government would protect them from bad products and services. In the free market, consumers would be protected because:
- A good name is an asset to a business and it can best be maintained by fair and honest dealing.
- The use of certificates, guarantees, and warranties issued by manufacturers and suppliers of goods and services is a protection to the consumer.
- Both professional and non-professional people can voluntarily form associations for the specific purpose of maintaining high standards both in work and behavior.
- Privately-owned consumer protection organizations producing journals and magazines would proliferate in a free market.
We therefore endorse and advocate the following:
- The elimination of all government consumer affairs bureaus or departments.
- The repeal of all laws regulating the production, transportation, sale, possession, advertising, quality, safety, or use of any product or service.