Our friends from the WSJ recently endowed us with this bit of wisdom:
Unsafe products are a fact of life. The U.S. has created its own share of food- and product-safety scares over the years, from E. coli-tainted spinach to faulty Bridgestone Firestone tires. Even the best inspection regime, whether government or private, will miss serious problems from time to time. But at the end of the day, the private market stands a better chance of protecting consumers than an army of government inspectors ever will.
O RLY? Here’s the type of product produced by the private market in China, where the government inspectors are complicit in the chase for cash at the individual’s expense: