(Implications of Ariely’s Arguments for Business Regulation)

Ariely’s Honest Truth took a close look at our human frailty when it comes to ethics and commitments. Based on Ariely’s book, on the one hand one might argue that we need structure and constraints to protect ourselves and our society from our own imperfections, and yet, on the other hand it may be argued that those charged with regulating and controlling the rest of us are just as imperfect and thus that we should be skeptical of centralized regulatory powers.Clearly, we need government regulations on a variety of different aspects of business, but how do we best ensure that the regulators are really acting in the public interest?

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