>The average person isn’t informed enough to understand what their medical treatment needs are.
The average person isn't informed about anything other than however they make money from 9-5
Consumer ignorance is not an excuse for a crappy market.
The average person isn't informed about anything other than however they make money from 9-5
Consumer ignorance is not an excuse for a crappy market.
It is unreasonable to expect every consumer to be an expert in every commerce transaction that takes place in their daily lives.
Is the price of specialization and sophistication the movement of decision power away from the source of decision quality information? I find it paradoxical to use regulation as a response to the fact that "it is unreasonable to expect every consumer to be an expert" in that it is likewise unreasonable to expect regulators to be expert in the context and values of each individual consumer.
When I want finical advice I hire an expert that gets paid the same no matter where I invest my money, because his incentive is to give me the best advice so I stick with him. If I get finical advice from someone that gets commission based on selling specific investments then the advice is more likely to be less than the best.