A growing public outcry is occurring now in China as a number of children have been getting sick from a milk powder called Bei Bei, a product manufactured by a large Chinese company called Sanlu. Data showed that one baby has died and that 50 more have "developed kidney stones". Melamine was indicated as the poisonous chemical in the milk powder. It is usually "used to make plastic and tan leather", but it could also be used to misrepresent protein content in a certain mixture. The Food and Drug Administration said that Bei Bei is currently not in U.S. stores, but could be sold in "ethnic markets". Chinese officials vowed to crackdown on the culprits.
Cases like these are bothering for free market advocates like myself. It is stories like these that drive people to accept the false notion that unfettered markets are ultimately ineffective and harmful to people and that government intervention is the solution.
First of all, I do agree that the government should have a role in the market. The problem is that these days, when people say they want "government regulation", they mean that the government should come up with one-seize fits all measures on how to run a business. These measures, I believe, are ineffective and even counterproductive. I believe that government should be reactionary, one that emphasizes restitution over regulation. I believe that restitution is a great deterrent against unscrupulous entrepreneurs without harming those who are actually honest. Devious companies such as Sanlu should not be allowed to get away with their misdeeds and must be taught a lesson by levying heavy fines against it and providing for the medical treatment of the children it has harmed with its product.
ORIGINAL ARTICLE: http://www.latimes.com/news/nationworld/world/la-fg-milk13-2008sep13,0,4879655.story
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