Changes

For example, in the [[United Kingdom]] the [[Food Standards Agency]] regulates what food can be sold, how it can be packaged, and so on. A pure application of ''caveat emptor'' would argue for the FSA's abolition, leaving it up to consumers to decide what food to buy, and trusting to producers' best interests (eg desire for repeat business) to incentivize them to produce food that is safe and of a suitable quality (see [[invisible hand]]). More moderate advocates of ''caveat emptor'' might argue for a minimal role for the FSA, perhaps ensuring that food is safe to eat but not intervening further with health-related regulations such as [[salt]] and [[fat]] content.

For example, in the [[United Kingdom]] the [[Food Standards Agency]] regulates what food can be sold, how it can be packaged, and so on. A pure application of ''caveat emptor'' would argue for the FSA's abolition, leaving it up to consumers to decide what food to buy, and trusting to producers' best interests (eg desire for repeat business) to incentivize them to produce food that is safe and of a suitable quality (see [[invisible hand]]). More moderate advocates of ''caveat emptor'' might argue for a minimal role for the FSA, perhaps ensuring that food is safe to eat but not intervening further with health-related regulations such as [[salt]] and [[fat]] content.

[[Category:economics]]

[[Category:Economics]]

[[Category:Latin Phrases]]

[[Category:Latin Phrases]]