Competing pressures commonly lead to groups only arguing for their own self interests rather than what is more logical and correct. For instance, the cheese companies which produce “authentic” cheese have an economic incentive to argue for more exclusivity and regulation around foods in Europe. The money and sponsors can cloud the judgment of politicians and boards who have to make the decisions on food laws. A business issue can be influenced by a social concern due to ties with culture and identity. A group of people may see a certain food as their culture, so they don’t want businesses profiting without maintaining the same quality that the original artisans maintained.
One benefit of government regulation that certifies certain types of cheese is that small businesses and artisans will be able to charge a higher price for their cheese. This can promote small businesses and continue the profitability of the cultural practice of creating cheese. A benefit to a free market solution is that consumers will get cheese for a lower price. This will allow for more cheese options in stores and result in more savings and a larger selection of products for shoppers to choose from.
The regulation of cryptocurrency is a very debated topic in the United States. Government regulation would allow for a higher degree of protection for Americans who buy and sell the assets. Further, it could decrease scams and company bankruptcies which have plagued the industry. However, free market enthusiasts worry that too much regulation could decrease innovation. This could result in worse products in the marketplace and a lower degree of economic opportunities for jobs and investments.