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How Small Markets Fix Broken Consumer Protection
Episode 3824
Published 1 day ago
Description
When a retailer refuses a cancellation and won't answer the phone, the law on paper doesn't help. In a market of ten million people with only three major retailers, voting with your wallet stops working. This episode diagnoses why Israel's consumer protection system fails — 40 inspectors for 10 million people, fines that are 0.03% of revenue — then examines how Singapore, New Zealand, and Norway built enforcement mechanisms that actually change retailer behavior. The answer isn't bigger fines; it's making good behavior the profit-maximizing strategy.