Prior to the late 1950's there was little, if any, concern about consumer issues. On the U.S. federal level there are over 50 agencies and bureaus that provide some form of consumer protection. One implication of consumer sovereignty is that the market and only the market should determine what is sold, and even how safe a product should be. Neoconservative theory suggest that the consumer is all powerful. Firms have no power.
Firms only react to the market.
New Coke PC jr. Major corporations mold our tastes. New needs Corp. creates. Sec. of Commerce said wanted to ban pringles because charged so much. Example of attitude at that time under Carter Administration.