

I wouldn’t mind switching to a society that is built on altruism. My point is that the EU is not an inherent benevolent government. These regulations will be abused and I believe that there would be less abuse if we spent the resources on infrastructure that allows the consumers to make better decisions.
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.