CONSUMER PROTECTION : AN INTERNATIONAL COMPARISON

Abstract

This academic exercise examines the current status of consumer protection systems in the United States, the United Kingdom Japan and Singapore after which cross country comparisons are made. The objectives of this study are of four-folds. Firstly, it will examine the economic analyses of consumer protection principles, although social and legal issues are also discussed at some length. Secondly, it is to provide an overview of the different systems of consumer protection existing in different countries, enabling us to see the different ways in which consumer protection policies are carried out in different countries. Thirdly, it attempts to evaluate the systems of consumer protection through a review of its evidence. Finally, this study will take an inquiry into some general issues for the future in this field of study.

Some of the major findings of this academic exercise are (1) Public protection is the most common form of protection for consumers in the United States, the United Kingdom, Japan and Singapore. In these countries, there exists a network of law and legal tradition that expands the flow of information and establishes minimum standards for certain products. (2) Consumer organizations, be it at the national, states, locals and private levels provide protection for consumers and serve as an important avenue for consumers' complaints and redresses. (3) The importance of new technologies in the execution of consumer protection policies is seen in the United States, Japan and Singapore. (4) Budgets spent by the central governments on consumer protection policies differ across countries, ranging from about US$0.036 to US$12.96 per person.