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Muranga University College *
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Course
212
Subject
Information Systems
Date
Nov 24, 2024
Type
docx
Pages
2
Uploaded by johnphilo
All Consumers are Vulnerable and Worthy of Legal Protection
Outline
I. Introduction
Define key terms: "vulnerable," "consumer," and "legal protection."
Briefly state the essay's thesis: While all consumers are susceptible to various forms of
exploitation, the degree of vulnerability and the justification for the same level of legal
protection across the board is debatable.
II. Vulnerability and the Need for Protection
Discuss the inherent vulnerabilities of consumers: Information asymmetry: Consumers often lack
the necessary knowledge and expertise to make informed choices.
Cognitive biases: Consumers can be susceptible to emotional manipulation and impulsive
decisions.
Market power imbalances: Businesses often hold a dominant position in the market, allowing
them to exploit consumers.
Social and economic inequalities: Certain groups are more vulnerable due to factors like age,
disability, or socioeconomic status.
Provide examples of how these vulnerabilities can lead to harm: unfair contracts, misleading
marketing practices, defective products, etc.
Briefly outline the existing legal framework for consumer protection in Britain, highlighting key
statutes like the Consumer Rights Act 2015 and the Unfair Contract Terms Act 1977.
III. Critically Discussing the Blanket Protection Argument
Arguments in favor of a universal approach: Offers administrative simplicity and predictability.
Provides a baseline level of protection for all consumers, regardless of their circumstances.
Discourages businesses from targeting vulnerable groups.
Arguments against a universal approach: Treat all consumers equally vulnerable, which may be
unfair to those with more knowledge or experience.
It can be overly paternalistic and stifle innovation in the market.
This may lead to higher prices for all consumers as businesses pass on the cost of compliance.
IV. Nuance and Fairness in Consumer Protection
Explore the concept of "nuanced" consumer protection: Identifying and addressing specific
vulnerabilities of different consumer groups.
I am tailoring legal protections to the nature of the transaction and the potential risks involved.
We are empowering consumers through education and financial literacy initiatives.
We are promoting ethical business practices and fostering a consumer-friendly market
environment.
Discuss the potential benefits and challenges of a nuanced approach.
Analyze the fairness of placing a burden of proof on consumers to demonstrate their
vulnerability in some instances.
V. Striking the Balance: Protecting Consumers without Stifling Trade
Consider balancing consumer protection with the interests of businesses and the overall
economy.
Discuss the potential impact of overregulation on market efficiency and innovation.
Explore alternative approaches to consumer protection, such as self-regulation and co-regulation.
Analyze the role of technology in enhancing consumer protection and empowering consumers.
VI. Conclusion
Reiterate the complexity of the issue and the need for a nuanced approach to consumer
protection.
Emphasize the importance of continuously reviewing and adapting the legal framework to
address emerging challenges and evolving market dynamics.
State the essay's conclusions, emphasizing the importance of striking a fair balance between
protecting consumers and promoting a healthy market environment.
VII. References
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