I do not argue that 100% of companies will do the right thing, as you freely admit.
Using history as an argument is a bit weak in the modern age, I submit. It is information that allows people to make an informed decision. Information is substantially more available today, than in the past.
Few regulations are designed to require due diligence. They are set up for the purpose of establishing what is considered appropriate and for the purpose of punishment.
Again the actual proposal I made was to do away with the FDA and replace it with something that could move in a manner akin to, say, a motorcycle than a locomotive.

Quote Originally Posted by SadisticNature View Post
You argue that I am wrong to assume that it is not the case that every individual will carry out proper due diligence without regulation. I'd argue the onus is on you to prove that they will.

The fact is the current system has regulations because it requires the companies to carry out due diligence for the benefit of the citizenry. Your unsubstantiated claim is that without the regulations 100% of companies will do this anyways 100% of the time. If you could prove this I'd have no problem with abolishing the regulations, however both history and human nature argue to the contrary.