Excerpt
Excerpt
Regulation Is Just Another Word for Law. Joseph William Singer, November 10, 2015, Opinion. "Americans are skeptical about regulation. But when we read the news about faulty ignition switches and falsified environmental equipment, we see that the temptation to make short-term profits may blind us to the harms we cause. And it is for that reason, above all, that government needs to do the regulating. Suppose I buy a car from a company that tells me in its ads that the car emits fewer toxic gases than most cars do. Do I have a right to expect that claim to be true? Or can the company lie to me and get away with it? If the company has a duty not to lie, then I might be able to return the car and get my money back. If the company is free to lie, then I am saddled with a car I paid a lot of money for that does not perform as advertised. Property rights in the car must be assigned one way or the other. Either we interpret the contract to include an implied promise that the car works as promised or we saddle consumers with lemons. " Link