Product Safety Laws Discussion Board Reply
Post a substantive reply to the thread of at least two classmates. A substantive reply includes at least 100 words analyzing the initial thread as well as adding to the research and concepts put forth in that thread. The goal is to create meaningful discussion. To simply restate the idea already put forth or to concur with the first reply is not adding substantial discussion.
must be on two separate docs
1st classmate
Define – Product safety laws are designed to regulate the designing, manufacturing, distribution, sale, and resale of products.
Summary – The article I found was very informative. It clearly defined the importance of product safety laws, and even gave examples of why these laws are in place. These laws take into account the safety of the consumer, while also leaving ultimate responsibility up to the consumer. These laws also allow researchers to better understand the risks associated with various products that consumers are purchasing. The article outlined the legal steps for a plaintiff who has been injured by product defect, and even ended the article by referring the reader to contact a personal injury attorney if they were a victim of product malfunction. In the article, it says: “One of the main federal laws dealing with product safety is the Consumer Product Safety Act. Among other things, the act established the Consumer Product Safety Commission to develop various standards related to safety and product recalls. The Commission works closely with other administrative agencies to regulate products, such as the Food and Drug Administration and the Department of Transportation.” The article states that regulation and close monitoring can go a long way. As they say: “An ounce of prevention is worth more than a pound of treatment.”
Discussion – On almost all products in every department store, warning labels are placed reading “Keep out of reach of children” or “May be a choking hazard” in order to inform consumers, especially parents, of the possible risks that may come with certain products. My own grandfather actually took me fishing one time and he used a lead counterweight for his fishing rod. When my dad, his son, found out he was furious. My grandfather of course wasn’t aware of the risk that came with giving a small child a lead fishing weight, but the risk remains the same. In the interest of spreading awareness, product safety laws have helped inform consumers of the dangers of utilizing certain merchandise.
References
Akhbari, Kourosh. “Product Safety Laws.” Attempted Murder Lawyers | LegalMatch Law Library, 26 June 2018, www.legalmatch.com/law-library/article/product-safety-laws.html.
Timko, Kahn. “How the Consumer Product Safety Commission Keeps Us Safe.” Hg.org, www.hg.org/legal-articles/how-the-consumer-product-safety-commission-keeps-us-safe-29523.
Chen, Yongmin, and Xinyu Hua. “Competition, Product Safety, and Product Liability.” OUP Academic, Oxford Academic, 14 Mar. 2017, academic.oup.com/jleo/article-abstract/33/2/237/3070499.
2nd Classmate
Infant Industry Argument
Argument that industries in the developing and emerging sectors of the economy need protection against international competition in order to establish themselves.
Summary
Alexander Hamilton introduced the concept of Infant Industry Argument back in 1791 wanting to protect the U.S. from imports from Great Britain. Friedrich List later published his book in 1841, National System of Political Economy, where he gave a more detailed overview of the Infant Industry Argument.
The idea behind Infant Industry Argument is to protect industries during their early stages of development, especially those in countries with a low economic scale. Wanting to stimulate domestic production and attract foreign investments. In hopes to create employment and develop the domestic market and reduce the need on production in a foreign country.
Discussion
There is a lot of criticism regarding Infant Industry Argument, most importantly, that the merging industry is being coddled by this protection. Implying that because of this protection the new industry will lack the motivation to be self-sufficient and competitive. However, I ask you how else a new developing industry in a country can that relies on imported goods to survive be able to be come remotely self-sufficient. They can not without some form of protection and support from the government. Although, I am sure there are some countries that take an advantage, I don’t believe eliminating the support and protection.
Infant industry argument. (n.d.) Financial Glossary. (2011). Retrieved November 8, 2018
from https://financial-dictionary.thefreedictionary.com/Infant+industry+argument
Infant Industry Argument. (2010, June 10). Retrieved November 6, 2018, from