2 thoughts on “Financial consumers – not as daft as they look (to regulators)”

  1. Posted 08/05/2014 at 14:17 | Permalink

    In unregulated, or lightly regulated, markets consumers have an incentive to find out which providers of goods or services can be trusted. And they usually seem to be able to learn from experience (though admittedly this may not work well with one-off large-ticket items). As Philip Booth never tires of pointing out, it can often be unsatisfactory for providers of goods or services to feel that they are essentially accountable to regulators rather than to customers. That removes the incentive for consumers to take responsibility for their own decisions. Moreover it leaves us hoping (but not expecting) regulators to learn from their experience.

  2. Posted 09/05/2014 at 18:04 | Permalink

    It is a pity that Philip Booth and the IEA weren’t so keen on the other point of view when it came to judging the Brexit prize. No competition in ideas there.

Comments are closed.