Unnecessary
Cry Wolf Quotes
[It is a] collectivist [myth that business people] would attempt to sell unsafe food and drugs, fraudulent securities, and shoddy buildings….It is in the self-interest of every businessman to have a reputation for honest dealings and a quality product.
Such a label would surely spell the demise of a number of major product lines of the industry....there is no doubt that our competitors will attempt to take advantage of the situation by encouraging the public to avoid asbestos-containing products because of the potential health hazards implied in the warning label, even though to the customer no such hazard exists.
Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s "invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.
In summary, then, the proposed regulation could have a very serious adverse impact on my company, an impact which cannot be justified by any demonstrable benefit to our employees, to the employees of our customers, or to the general public.
