Quote Originally Posted by BananaStand View Post
Do consumers have that information? Do you trust the private sector to share that information with you? How do you know that the the private sector is employing standards and practices that meet your individual requirements.
Consumers make up the private sector. When we speak in aggregates (which we are), the private sector adjusts to all available information.

Look up "Tylenol deaths 1982". You'll find articles proclaiming a silver lining to that incident in that it forced drug manufacturers to improve their processes and implement more consumer protections.

But none of that happened until some kids died.
This is because new information emerged that changed valuation.

Don't you think it would be better if the government insisted on those improved procedures in the first place?
Sure, it would be better if it wasn't wishful thinking. How can a government adjust for something it doesn't know to adjust for in the first place?

Only when they really have to. The 1982 incident wasnt' just tylenol. It inspired MANY copycat incidents across the entire industry. Are you confident that every single firm in the industry implemented the proper procedures to protect consumers from harm?
My previous explanation of variation in values and budgets means that I do not think every firm does this, because producers and consumers derive marginal benefits differently. Some more highly value less stringent quality and others more highly value more stringent quality.

Regarding "proper procedure", what is that? How do you know if something is proper unless by what people freely choose?

Centralization.
How does that provide for more efficiency of allocating resources to food safety? We shouldn't ignore the opportunity costs and how people often value other things more than food safety with the same funds/effort, but let's do it anyways and just focus on food safety alone.

Ummmm, what about democracy. If the gov't fails it's mandate....usually re-elections are tough.
Like I said, the skin in the game is very weak. There isn't a total absence of skin in the game in government, though it is quite weak.