As a follow-on to the issues I raised in this post about the FDA making our risk-reward choices for us, comes this tongue-in-cheek suggestions from CafÃ© Hayek: Lets start the FCA, the Federal Car Administration, to approve cars for consumer use:
Choices would be few. Because of the high costs of the approval process, only cars that appealed to large numbers of consumers would receive attention from the manufacturers. On the plus side, the cars that did survive the process would be very safe and very good cars. They'd have to be. Manufacturers would want to reduce the odds of failure to avoid a ten year approval process that resulted in rejection.
It would be great, assuming the bureaucrats in Washington would make exactly the same choices that you would. In other words, it would be great if we all wanted to drive identical Ford Taurus's.
If you think this suggestion is just ridiculous humor, ask yourself whether this is what Ralph Nader has been after all along.