Because not everyone has the education to know when they're not being given a fair deal. If you don't offer these people protection they have to learn the hard way, and in many cases that can cost them dearly.
Many times it's because of illegal or amoral marketing practices that con people into buying things. Just look at all of the marketing hype that goes on on a daily basis for "fill in product name". Most of the time it's not factually accurate, misleading, or an outright lie.
Consumer protections help keep businesses inline. There is a limit to where it starts to hurt the economy though.
Hey didnt we used to have an agency called "Consumer Protection"? What happened to it? Oh, the Bush administration with their "deregulations" huh? Well, every time I read about someone getting scamed, I never hear any mention of this agency, as in the past. Going to write to President Obama on this one!
Consumers wouldn't need protection, if Congress had more balls.
Congress passed legislation that allows a Business or Entity, operating within the Economy, to argue as a singular identity.
Just like a person with their rights. A "business" Entity can argue based on rights of business, to sway judgements.
Congress needs to APPEAL that piece of legislation, so stronger control can be given back to the consumer(citizen).
Why Do Consumers Need Protection? To save them from themselves, because "advertising" and/or "marketing" can make almost anyone buy something they don't really need.
Why do you think America's Economy is the powerful Economy on the planet. Because, they can be easily swayed to buy almost anything.
Humans are consumers and the average human is incredibly stupid. Therefore, the average consumer is incredibly stupid. They need protection from their own dimwitted-ness even if it costs everyone else. However, what happens when the average humans are the ones protecting the average consumers? Together, they'd be just about dumb enough to end the economy as we know it. Perhaps consumers need protection to some degree but eventually they need to learn on their own, the hard way, to be responsible with their money.
I think the answer goes beyond simply "do we need protection?" Because I think the answer is yes. There are many unscrupulous individuals and for that reason, if no one was ever keeping an eye out for them, they would run rampant and consumers as a whole would suffer.
What we have now, however is a bit lax. The examples from recent problem items imported from China is a shining one. We have much work to do in that area.
So long and short is, we need consumer protection because of unscrupulous people and because there are businesses that are sometimes interested in the bottom line and nothing else.
by John Coviello 2 years ago
Why Do You Think Consumer Spending Is So Anemic?Despite an economic recovery that is going on 8 years and lower fuel costs, consumer spending numbers in the US are rather weak and is some months falling. Why do you think this is? Is the money being spent elsewhere or saved?
by websclubs 8 years ago
What is the Psychology of marketing?
by Dorsi Diaz 8 years ago
Something just occured to me, not only are we writers here but we are ALSO CONSUMERS. I see nothing wrong with clicking on a fellow hubbers google ad if it's something we are interested in. I am getting the feeling that some people are afraid to do this for fear of reprisal for being click happy...
by kat11 7 years ago
This morning my husband asked me why do Americans have to purchase more than they make? I did not know how to answer so maybe I can get some answers from all of you.
by American View 7 years ago
Can you believe it. In response to a question at a town hall in Decorah, Iowa, Monday evening, President Obama said that when Congress returns in September, "I'll be putting forward...a very specific plan to boost the economy, to create jobs and to control our deficit. And my attitude is get...
by Col. Duke LaCross (...Okay, maybe I lied) 6 years ago
It would work... In theory? Why did they bail out the banks?Throwing money at a problem in some vague hope that it will resolve is almost as American as apple pie and baseball. Did Depression-era bailouts fail as a result of too-little-too-late, or does trickle-down economics sound as phony as it...
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