Monday, April 27, 2009
Via Point of Law, the University of Chicago School of Law's Coase Lecture. The intro from the blog post:
Professor Omri Ben-Shahar spoke on the "Myths of Consumer Protection" at this year’s annual Ronald H. Coase lecture for first year law students. Ben-Shahar discussed why he believes the modern consumer protection movement is largely misguided. Consumer advocates cite three things that consumers need: information about products, access to courts, and remedies for wrongs done to them. In the eyes of the consumer advocate, a consumer cannot compete with large corporations without these three things. It would be David versus Goliath; and Goliath would always win.
Prof. Ben-Shahar argues that those needs are all at least overstated. Audio and video at the link.