Why Do Movies Actually Have Ratings?

Movie Ratings today seem like a standard way studios let audiences know what is appropriate for certain ages. Though this seemingly arbitrary system has a deep history of censorship in Hollywood. From the early days of The Hayes Code and it's evolution into the movie ratings system we have today, it seems there are different rules for different players when it comes to releasing feature films. But how exactly did we get to where we are today, and do we even need the movie rating system anyay?

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