Underwriters Laboratories.

Here is another example of how the free market works better by protecting individual rights. The scientists at the Underwriters Laboratory are a bunch of guys who perform a quality check on a product before it reaches the market. The quality test is done at the expense of the manufacture himself. This is another example why capitalism provides more safety to the buyer. Although in a free market, there would be no laws making it compulsory for manufactures to undergo product certification -- most manufacturers would still prefer the quality check for two reasons -- market competition and expensive lawsuits.

Any argument for capitalism should propose to outlaw the costly, inefficient government agencies which make it mandatory for manufacturers to undergo quality checks under government beauracrats. Such independent product certification will also be more reliable as they face bankruptcy and expensive lawsuits if they get it wrong. We should rid ourselves of the statist mess we put in place.

More on this here

[HT -- Noodlefood]