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The Regulated Consumer

  • The Regulated Consumer by Mary Peterson
March 13, 2007

Tags Interventionism

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.

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References

Ottawa, Illinois: Green Hill Publishers, 1971. Introduction by Milton Friedman