Ensuring Safe Food in a Free Market: A Lesson from China

Cato @ Liberty
Sep. 01, 2014

Many Americans view the dissemination and enforcement of food safety standards as a basic function of government, and it’s difficult for them to imagine a world where food is both safe and unregulated. Libertarians can point out that the safety of a product is, just like quality and price, something that consumers directly care about and as such will be most effectively preserved in a competitive free market. But it’s one thing to make abstract economic arguments and quite another to have real life examples.

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