Why caveat emptor?

posted by
August 9, 2011
Foundation for Economic Education
by Sandy Ikeda  
Posted in Commentary

"The phrase caveat emptor is usually rendered, 'Let the buyer beware!'  Whether it’s an apple at the grocer or a car at the dealership, the buyer should be cautious lest the seller try to pull a fast one.  The same goes for the seller -- caveat venditor! But isn’t competitive rivalry alone supposed to protect consumers against shoddy products and keep prices low?" (08/09/11)


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