The Regulated Consumer
Mary Bennett Peterson
At the outset of the Naderite consumer movement, the Austrians had a vigorous response in this book by Mary Bennett Peterson. She discusses whether and to what extent product, safety, labor, communications, and other regulation helps or hinders the interest of the consumer. She argues that the right of contract and the freedom to trade are the best protections, and that regulations only end up privileging some producers over others. This book is an excellent case study in the application of Mises's principle of consumer sovereignty. It appeared in 1971, and its forecast of a hobbled production process and unprotected consumers have proven true many times over.
Ottawa, Illinois: Green Hill Publishers, 1971. Introduction by Milton FriedmanUpdated 5/15/2010