The Privatized Policeman.

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  • Author(s): Baldwin, William (AUTHOR)
  • Source:
    Forbes. 6/21/2004, Vol. 173 Issue 13, p22-22. 1/2p. 1 Color Photograph.
  • Additional Information
    • Subject Terms:
      EDITORIALS; COMPETITION; GOVERNMENT competition; UNDERWRITERS Laboratories Inc.; UNITED States. Food & Drug Administration; EDUCATIONAL accreditation; LIFE insurance; INSURANCE commissioners; AMERICAN business enterprises
    • Abstract:
      The fellow in charge of Underwriters Laboratories is getting run ragged these days, reports Brett Nelson on page 103, because he's got to keep his customers happy while hiring salesmen and purchasing fancy testing equipment.UL is the not-for-profit that makes sure your fridge won't catch on fire when you plug it in. It's the dominant player in product testing, but it doesn't have any monopoly. If it's late with a certification or rude on the phone, the manufacturer may send the next assignment to a rival testing company. Competition at work. What a radical thought! Suppose we applied it to other organizations that protect the public. The Food& Drug Administration is in business to make sure pills are safe and effective. A federal agency crash-tests cars. So does Consumer Reports. They should compete for car buyers' attention. Then there are college regulatory people, bank supervisors and more. Shouldn't they have to compete for the consumer's business?