In this article Viscusi looks to answer one pivotal question, have the regulations by the Consumer Product Safety Commission (CPSC) had any significant effect on public safety. This is done essentially through three stages. First, Viscusi analyzes the trends in accidents and safety issues as a result of CPSC efforts. Second, Viscusi presents a case study on the effects of protective bottle caps on poisonings. Lastly, Viscusi extends his research to other CPSC regulations to discern any other positive effects.
There are two ways in which the CPSC can affect product safety, by issuing standards and recalling hazardous products. Though the CPSC has only issued about 20 standards, they are the focus of the paper. To start Viscusi presents the products most responsible for home accidents. Out of those, some are simply impossible to regulate due to human activity (sports) or their widespread use (nails, tacks). Looking at the overall…
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