Reference no: EM131663511

Topic: International Law : Government Regulation of Business

Please read the below and state whether you agree or disagree with the argument for and against the agency's role in the regulation of business and support the stated agreement or disagreement with atleast one credible source.

The Consumer Product Safety Commission (CPSC) was created in 1972 to protect the public from unreasonable risks of injury or death associated with the use of the thousands of types of consumer products under the agency's jurisdiction.

This commission is necessary because they support federal laws that protect the public from any product.  They create acts that help protect people if an issue should occur.  An example of an act that they have put into effect is the Labeling of Hazardous Art Materials Act.  This act requires a review of all art materials to determine the potential for causing a chronic hazard.  Art materials that are found to pose a chronic hazard must bear a warning label.  By requiring a certain level of warning and review of all warnings posted, they can protect many consumers from injury or death.

This is a necessary commission because it protects the public from dangerous and hazardous materials by informing them of what is in the product, along with the harm that it can cause.  By having these warnings, the companies that make these materials are protected from lawsuits and it in the long run will help the economy because big companies that make these products will not lose all of their money with lawsuits caused by injuries of consumers. 

This could hurt businesses because it could end up costing the company more in warning labels, remaking of labels, and remaking of the product depending on the review that is required.  The cost of creating the labels and revisions is expensive and time consuming, and companies do not want to do this they want to spend their money on making more products.