Paternalism
Members of society, acting through government, often seek to protect
adult (and presumably responsible) individuals, not from others, but from
themselves. Laws prohibiting the use of addictive drugs and laws
requiring the use of seat belts are intended primarily to protect
individuals from their own ignorance or short-sightedness. These kinds of
interference in the free choices of individuals are examples of
paternalism. Whether such actions reflect the wishes of the majority in
the society or whether they reflect the actions of overbearing
governments, there is no doubt that the market will not provide this kind
of protection. Buyers do not buy things they do not want, even if these
things are “good for them,” and sellers have no motive to provide them.