What are the best ways to balance consumer protection policies and business needs?
Consumer protection policies are designed to safeguard the rights and interests of consumers from unfair or harmful practices by businesses. However, these policies also have implications for the costs, innovation, and competitiveness of businesses in different markets. How can policymakers balance the needs and preferences of both consumers and businesses in a dynamic and complex economic environment? In this article, we will explore some of the best ways to achieve this balance, based on the principles of economics and the examples of consumer policy and regulation in various sectors.