Regulation IS a natural product of free market. Toy Recall.

[The Backlash Cometh]

Here it is folks. What I predicted six years ago in a forum, fighting a Libertarian on free market. I told him that government regulation would be a natural by-product of free market. That business could not be counted on to self-regulate itself because they could only be counted on to put profits ahead of consumer safety. And that, eventually, unsafe products would hurt profits, thereby mandating regulation to improve consumer confidence.

Here is what was recently said due to the toy lead-paint scandal:

"They have also persuaded the Toy Industry Association — whose members are responsible for 85 percent of the toys sold in the United States — to call this month for a federal mandate that all toys be tested for lead and other hazards before they are sold."

Here's more snips:

Major American retailers, including Target, Limited Too and Dollar General, have found more lead-contaminated children’s products in their inventories but have not yet notified the public, Congressional investigators have determined.

snip

The disclosures came in response to questions asked by the House the Energy and Commerce Committee of 19 companies that had already recalled Chinese-made products because of lead contamination, including Mattel and RC2, maker of Thomas & Friends toy trains.

Those recalls — representing millions of individual items — have shaken the American toy industry in recent months, leading to a surge in testing by manufacturers, importers and retailers.

http://www.nytimes.com/2007/09/19/business/worldbusiness/19toys.html?_r=1&adxnnl=1&oref=slogin&ref=business&adxnnlx=1190202305-jGrUYvP1FcVq576q6kpoYQ