How Did President John F

question 128

Essay

How did President John F. Kennedy change the concept of American business culture away from caveat emptor in the 1960s?
Before the 1960s, the legal concept of caveat emptor (let the buyer beware) was pervasive in American business culture. In 1962, President Kennedy codified a Consumer Bill of Rights that was intended to regulate the ethics of exchange between buyers and sellers. Ethical exchanges between buyers and sellers should result in both parties being better off after a transaction. The Consumer Bill of Rights includes the rights to safety, to be informed, to choose, and to be heard.

---

Definitions:

Larger Vocabularies

Larger vocabularies refer to the extensive range of words an individual knows and can use, which is often associated with better communication skills and cognitive development.

Family Income

The total amount of money earned by members of a family, contributing to the household's overall financial resources and impacting their standard of living.

Maternal Employment

Refers to the participation of mothers in the work force, including part-time and full-time employment.

Spanish

A Romance language originating from the Iberian Peninsula and now spoken by around 460 million people globally as a first or second language.