China examines milk powder 'premature puberty' reports
China's government is investigating reports that a brand of powdered milk caused infant girls to grow breasts.
It is being alleged that hormone-tainted milk from Synutra International caused several cases of premature puberty in Hubei province.
The Chinese firm, whose shares fell by up to 35% on the news, strongly denies its products were tainted.
Food safety problems involving milk powder and other products have alarmed Chinese consumers in recent years.
The rest here: http://www.bbc.co.uk/news/world-asia-pacific-10955585
Does the fact that Synutra International's shares have fallen by up to 35% give heart to those who argue that the free market can regulate food safety more effectively than government interference can?
Without proper regulation, you'll just see a boom-and-bust-cycle of food poisoning and dairy companies going bankrupt, and new ones selling poisonous food replacing them.
Originally posted by FMF [b]China examines milk powder 'premature puberty' reports
[quote]China's government is investigating reports that a brand of powdered milk caused infant girls to grow breasts.
It is being alleged that hormone-tainted milk from Synutra International caused several cases of premature puberty in Hubei province.
The Chinese firm, whose shares fell by up ...[text shortened]... the free market can regulate food safety more effectively than government interference can?[/b]
Upton Sinclair answered that question for you decades ago.
The answer to your question is of course not. Things like protecting the nation's food supply definitely falls in the realm of the government's shpere. Sure, the market works after something bad happens, but hopefully regulations will prevent the bad things from happening.
Originally posted by FMF [b]China examines milk powder 'premature puberty' reports
[quote]China's government is investigating reports that a brand of powdered milk caused infant girls to grow breasts.
It is being alleged that hormone-tainted milk from Synutra International caused several cases of premature puberty in Hubei province.
The Chinese firm, whose shares fell by up ...[text shortened]... the free market can regulate food safety more effectively than government interference can?[/b]
I may be overestimating some, but I have trouble believing anyone would argue that government regulation should play no part whatsoever in regulating the safety of food.
Market forces help, of course, but if there's ever a proper government function, it's ensuring that the food we eat is safe.
Originally posted by sh76 I may be overestimating some, but I have trouble believing anyone would argue that government regulation should play no part whatsoever in regulating the safety of food.
We shall see.
If they don't come forward perhaps we can unearth and dust off previous posts.
One line of argument I seem to recall was private companies vying to offer safety endorsements - that the customers could freely assess, ignore, adhere to for themselves - and losing share value or going bankrupt if there were deaths despite their endorsements. The free market in action. No more 'nanny state'.
If they don't come forward perhaps we can unearth and dust off previous posts.
One line of argument I seem to recall was private companies vying to offer safety endorsements - that the customers could freely assess, ignore, adhere to for themselves - and losing share value or going bankrupt if there were deaths despite their endorsements. The free market in action. No more 'nanny state'.
Yes. I think you also remember who posted such preposterous nonsense.
Market Forces v Regulation
14 Aug '10 11:28
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