Improving markets means regulation. Rating systems as you propose them are easily influenced and gamed by companies and subject to the same information and irrationality problems that individual consumer behaviour are.
Lastly, don’t think that such EU regulations aren’t initiated by and pushed for by consumer advocate groups. The commission is not in the habit of going around, saying “where is a market segment that isn’t regulated and what pointless shit can we accost them with”. If things work fine they just plainly let things be.
Thing is: There’s always going to be chuds saying “REEEE I want a more powerful vacuum” and go with the one with the higher wattage number on the box, no matter what comparison portals say about actual performance. Those portals are nothing new, they have existed for a long time. Yet companies did get into a wattage war, and to write a bigger number on the box so that people would buy it you need to use a bigger motor and use more energy. Problem being: Noone is helped by vacuums which stick to the floor, so you also have to leak, and be loud. All that extra power, good for nothing.
There’s exactly one way out of such a market failure: Regulation. “vacuums may not use more than X watt per Y of sucking power”.
That’s a good argument but doesn’t fit the situation. The bad buying decisions can be corrected with market mechanisms. Allow people to finance the products over the entire expected lifetime. Then high quality goods are cheaper and people will choose them.
Some people speculated that Britain left the EU because they believe in markets whereas many EU countries don’t. This could be one of many decisions that put the EU onto a different trajectory. We will see in 20 years if the EU can stay on top of its regulations.
Allow people to finance the products over the entire expected lifetime.
So you want to capture regulation in the name of the banks and whatever presumably private (because markets!!!11) agency does the life expectancy rating while simultaneously letting the manufacturers off the hook warranty-wise. Got you.
Some people speculated that Britain left the EU because they believe in markets whereas many EU countries don’t.
Those people are stupid. At least in so far as “they” refers to Britons at large. If with “they” you mean certain nobs and posh folks and with “market” you mean “offshore tax havens” then you have a point.
Brexit was pushed for by Atlas network members, notably against opposition from Atlas members from anywhere else in the world, right before the EU started tightening regulations on tax havens. Coincidence? You tell me. The rest of those neoliberal fucks rather pay taxes than burn the cake they’re eating.
We will see in 20 years if the EU can stay on top of its regulations.
The EU Commission, back then in the form of the ECSC High Authority, has been doing this stuff since 1952. All European post-war prosperity is based on this kind of approach. Details differ but by and large the European economical policy is ordoliberal.
I think that it is better to improve the markets and minimize the market failures instead of trying to regulate everything.
Everything has to be checked by institutions if consumers are kept ignorant whereas competent consumers do that work for free.
Improving markets means regulation. Rating systems as you propose them are easily influenced and gamed by companies and subject to the same information and irrationality problems that individual consumer behaviour are.
Lastly, don’t think that such EU regulations aren’t initiated by and pushed for by consumer advocate groups. The commission is not in the habit of going around, saying “where is a market segment that isn’t regulated and what pointless shit can we accost them with”. If things work fine they just plainly let things be.
Thing is: There’s always going to be chuds saying “REEEE I want a more powerful vacuum” and go with the one with the higher wattage number on the box, no matter what comparison portals say about actual performance. Those portals are nothing new, they have existed for a long time. Yet companies did get into a wattage war, and to write a bigger number on the box so that people would buy it you need to use a bigger motor and use more energy. Problem being: Noone is helped by vacuums which stick to the floor, so you also have to leak, and be loud. All that extra power, good for nothing.
There’s exactly one way out of such a market failure: Regulation. “vacuums may not use more than X watt per Y of sucking power”.
That’s a good argument but doesn’t fit the situation. The bad buying decisions can be corrected with market mechanisms. Allow people to finance the products over the entire expected lifetime. Then high quality goods are cheaper and people will choose them.
Some people speculated that Britain left the EU because they believe in markets whereas many EU countries don’t. This could be one of many decisions that put the EU onto a different trajectory. We will see in 20 years if the EU can stay on top of its regulations.
So you want to capture regulation in the name of the banks and whatever presumably private (because markets!!!11) agency does the life expectancy rating while simultaneously letting the manufacturers off the hook warranty-wise. Got you.
Those people are stupid. At least in so far as “they” refers to Britons at large. If with “they” you mean certain nobs and posh folks and with “market” you mean “offshore tax havens” then you have a point.
Brexit was pushed for by Atlas network members, notably against opposition from Atlas members from anywhere else in the world, right before the EU started tightening regulations on tax havens. Coincidence? You tell me. The rest of those neoliberal fucks rather pay taxes than burn the cake they’re eating.
The EU Commission, back then in the form of the ECSC High Authority, has been doing this stuff since 1952. All European post-war prosperity is based on this kind of approach. Details differ but by and large the European economical policy is ordoliberal.