Planet Money The birth of the modern consumer movement
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May 3, 2024 Milton Friedman, a renowned economist known for championing free markets and critiquing excessive regulation, discusses the origins of the modern consumer movement. He and the hosts delve into Ralph Nader's pivotal role in the 1960s, highlighting his confrontation with the auto industry and the backlash he faced after exposing safety issues in cars like the Corvair. The conversation also tackles the clash between consumer advocacy and market self-regulation, revealing the tensions that continue to shape consumer protection debates today.
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Corvair Criticism
- Ralph Nader's book, "Unsafe at Any Speed," criticized the Corvair's rear engine design for safety issues.
- Although later studies disputed this, the book significantly impacted the car industry.
GM's Investigation of Nader
- General Motors hired detectives to investigate Ralph Nader, attempting to discredit him personally.
- These tactics included surveillance, harassment, and alleged attempts to entrap him in compromising situations.
Senate Hearing and Apology
- Senator Ribicoff held hearings on GM's investigation of Nader, where GM's president apologized for their actions.
- This public apology boosted Nader's credibility and contributed to the passage of the National Traffic and Motor Vehicle Safety Act.
