The diet soda business is in a free fall, so says the Wall Street Journal. Well, whadaya know, fake food is being found out. A growing number of Americans believe artificial sweeteners may not be healthful despite decades of government studies finding them to be safe.
The question is, once again, who do you trust? Who is the ultimate authority? On NPR this morning was a story about 1000 people guessing the weight of an animal. I think it was an ox. These thousand people were pitted against “experts.” The thousand ordinary people, with no certificates or degrees were accurate to within a pound, beating the experts.
The market is more accurate than the Food and Drug Administration as well. And the market was correct regarding General Motors. Now, after nearly a decade and 13 deaths the government is insisting GM recall 2.6 million vehicles with a faulty 57 cent part on the ignition switch. The market said GM should die but consumers were forced to prop up a failed company and they’ve caused the loss of 13 lives.
Where would we be without federal regulators and subsidies? In a better place, dictated by individual choices made by consumers who know the knowledge they seek will make a difference in their lives. The less dependent people are the better choices they make.