Consumer Law and Economics
When you buy something, do you bargain about the terms of sale? Is the only consumer choice to buy or not to buy? If sellers tend to treat all consumers alike, then is it possible that government can do a better job of protecting the consumer than consumers themselves can do?
Today, consumer law consists of the common law and government regulation, both of which have changed with the passing years-and will continue to change as new consumer problems arise. Yet, there are certain values underlying consumer rights and responsibilities reflected in law. If we can identify these values, we often can tell the direction the law will take.
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