News source: http://www.abs-cbnnews.com/business/09/06/13/pnoy-signs-law-gma-proposal-put-safety-labels-toys
What was your
favorite toy when you were a little youngster? A car, a doll, or whatever it
may be, haven’t you realized what is its significance in your life? Or, have
you ever considered it a valuable thing in your life?
Toys
are not just simple, insignificant things. Out of our consciousness, it nurtures our
physical, mental, social, and emotional progress. We learn and improve many
skills that support us to succeed in life. During our childhood, we were given
the time to play on our own and through this, we develop various skills like
thinking, speaking, listening, reading and writing skills. We also develop our
personality and a sense of responsibility for others. We learn to communicate our ideas and
thoughts, as well as our feelings. We socialize with our playmates or with
other person which is a way for us to cooperate in various activities and at
the same time, negotiate and resolve conflicts with them too. Aside from being
entertained, we realize our capabilities and develop values that give us the
chance to understand the world around us.
But I was saddened with some alarming news
that there are instances where there are young people who were choked while
playing with their toys and some being intoxicated with it. Questions, then,
popped out into my mind: Is it because parents or guardians were too reckless
with their choice of toys for their children and were too complacent that they
tend to leave their children unattended? Is it because toy manufacturers lack
the responsibility of attaching safety labels on their products? Or, is it that
our government is too loose in upholding its policies in protecting its youth?
As I was scrolling a particular website for latest news, the news report
on “PNoy signs into law GMA proposal to put safety labels on toys” really
caught my attention because I am one of those who will be directly affected of
such law.
I highly appreciate this newly signed Republic Act 10620, or the “Toy and Game Safety Labeling Act
of 2013”. This is for the protection of the rights of children who are
most vulnerable to the hazards of the falsely labeled toys. As consumers, we
will be able to know the safety precautions and the contents comprising for
each toy.
Every time I go home in Mati, I always bring with me a “pasalubong” for my younger brother and my nephew. They always tell me to buy new toys for them because they are fond of it. Before, it is too risky for me to choose the toy that I will buy because of incomplete information labeled on those products and I have this doubt whether it is safe or not. So instead of buying toys, I prefer buying them food, which I know will be less appreciated by them because they keep on requesting me to buy new toys. Here I can apply the second principle of economics which is “the cost of something is what you give up to get it.” The opportunity cost for me in buying them food is the contentment they will get when I buy them new toys. I have no choice but to sacrifice their happiness rather than putting them into danger.
If this law will be realized a few years from now, I will have a sound
choice of what toy I will buy or not and what product to avoid because of the
complete information attached on each product. This time, I will less worry
about the safety of my little youngsters and they will be happy because I will
be able to grant their request of buying them new toys.
Another principle of economics that is applicable to such instance is the
seventh principle, which is “governments can sometimes improve market outcomes.”
We cannot deny the fact that markets usually fail in upholding the welfare of
consumers because of the impact of externalities on the part of these unaware
consumers. So, to ensure the safety and welfare of its people, especially the
youth, sometimes, there is a need for the government to intervene in the
activities in the market. This newly signed policy will help in the
decision-making and interaction of consumers and producers as well as in making
them become productive.
The distribution of these products in our country, in these cases the
toys, will be regulated so, it is safer as to the coming in and out of such products
in our country. Those hazardous toys will be banned and will surely be
withdrawn from the market. Thus, we consumers can refrain from patronizing such
dangerous toys.
But on the other hand, the
implementation of such law would be a burden on the part of the toy manufacturers
as well as the small business owners of toys. This will be an additional cost
for them. They will have to pull out the items that do not reach the standards
of the law pertaining to the precautions needed to be attached on every item.
There will be an additional cost on the processing and redistributing of the toys. There
is also a need to consider the time. Small business owners will have to wait
for an extended time for the toys to be completely labeled and to be ready for
sale.
As I have also watched from the
news, toy sellers reacted to this law signed by the president that mandated the
need to put safety labels on toys. They said that the government is too late in
proclaiming the law since they already ordered for the past few months numerous
items. The demand for “under-quality” but affordable toys starts to rise since the
Christmas season is fast approaching. But if the government will really push
through in implementing the law, they will be forced to delay the selling of
those toys in order to comply with the standards.
There will also be a negative impact on my part as a regular buyer of
toys. Since manufacturers will be forced to withdraw their products in the
market and will reprocess them in order to reach the standards mandated by the
law, it is probable that the pricing of their products will increase. This will
be an additional cost for me in buying those products. Possibly, some items
will not be affordable for me because of my limited budget.
We, consumers, react to the changes in the pricing system. Whenever the
price of toys increases, the demand for it falls. So, the market for toys will
weaken. Of course to be more practical, if toys start to become expensive, we
tend to find other substitutes for it. Thus, the demand for toy substitutes
will strengthen.
From these impacts of the newly-signed law by President Benigno Aquino
III, I would want to give few recommendations as to the betterment of this
policy.
