Well, you're being contradictory. You say that everything that is sold should be subject to oversight and regulation, but then you say there shouldn't be regulation, just information. You haven't explained how we are likely to get the information without the reguilations that require companies to provide us with it.
The only snake oil that is allowed to be sold these days falls under the "nutritional supplement" loophole, like homeopathic rememdies, as well as the herbal remedies and supplements.
Actual pharmaceuticals are very highly regulated. Not perfectly, but very highly.
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