Standards are fundamentally a social approach that can address public policy questions ignored by markets.

Question

Quizplus · Accepted Answer

Standards can be set according to the best available scientific knowledge and thus overcome market failures that result from insufficient information. Standards prevent employees from having to face the fundamentally coercive choice between job and safety. Standards also address the first generation problem by focusing on prevention rather than compensation after the fact. Finally, standards are fundamentally a social approach that can address public policy questions ignored by markets.

Standards Are Fundamentally a Social Approach That Can Address Public