05 April, 2010

Buy in Haste, Repent in Leisure

One of the most troubling parts of capitalism is that it does really well when people lack the ability to make an informed decision.  Throughout the history of buying and selling, having an uninformed and uneducated public is key to hucksters and their snake oil empires.  Claiming the whole time that people wouldn't buy their products unless those products worked and "you can trust me because [neighbor/friend/relative/famous person] did!"  The appeal of joining the crowd, of abdicating responsibility for vetting a product to the larger group, is that there isn't any one person to blame.  You can't blame your neighbor for getting you into it because everyone on the block did the same (maintaining friendly relations); you aren't at fault because everyone else bought the same thing, you aren't any better or worse than any of them (preserving your self image and status).  Looking back at what these carpetbaggers have done, it's easy to see why they kept moving: they had a hard time continuing to rip people off once their credibility was shot.  Nowadays, however, with a "global economy" and multinational corporations, we are seeing the same tactics being successfully used over and again.  Most likely this is due to "consumers" (1) not having the knowledge to adequately check products, (2) being overwhelmed with choices and advertising, (3) not making products' risks or shortcomings widely known, and (4) companies generating a slew of products and overwhelming the marketplace.  Asking "what is the difference between the product that came out last week and the previous version" from just last year?  Is it really so different that I need to spend more money?  Or are these things just flashier versions of the same thing or something I really don't need?

When we have finally have adequate education and gain the necessary experience, we will no longer be so easily taken advantage of.  This wouldn't just lead to an implosion of sales of worthless products, but rather to those products being successful which would endure and be helpful .