"Of course, what is rarely pointed out or emphasized by those who worry about the problem of asymmetric information in society is its far more likely danger and abuse in the arena of government intervention.
In the marketplace, a disgruntled consumer who finds that a seller has been less than truthful about a product can immediately stop doing business with that supplier. This is not so in the political arena.
If a voter finds that a politician or bureaucrat has failed to meet their promises or has seemingly deceived him after an election, he must continue to fund their activities in the form of the taxes that that voter is forced to pay, as well as to obey the rules and regulations they have imposed on him or others with whom he may desire to do business.
In the marketplace, the consumer may turn to other competing providers if a particular seller has appeared to deceive him with false, incomplete, or exaggerated information. He does not have this option in the political arena."
https://fee.org/articles/consumer-protection-doesnt-require-government-intervention/
In the marketplace, a disgruntled consumer who finds that a seller has been less than truthful about a product can immediately stop doing business with that supplier. This is not so in the political arena.
If a voter finds that a politician or bureaucrat has failed to meet their promises or has seemingly deceived him after an election, he must continue to fund their activities in the form of the taxes that that voter is forced to pay, as well as to obey the rules and regulations they have imposed on him or others with whom he may desire to do business.
In the marketplace, the consumer may turn to other competing providers if a particular seller has appeared to deceive him with false, incomplete, or exaggerated information. He does not have this option in the political arena."
https://fee.org/articles/consumer-protection-doesnt-require-government-intervention/