Some wider problems with choice
Some wider problems with choice
This chapter examines a number of examples that demonstrate the manipulation of choice in markets. It notes that the preservation of choice in markets is secured by making them open to newcomers, so that competition is endemic — a basic mechanism for the advancement of the capitalist market economy. It discusses how collaboration with rivals is one solution for those who do not enjoy competition. It then describes cartels as associations which involve either price fixing or market sharing. It evaluates the causes and effects of bad choices and how the rise of the credit industry shadowed and enabled the rise of consumerism. It demonstrates that choices is at times abusive and disadvantageous, rather than a boon. It emphasizes how choice does not always deliver what it claims.
Keywords: choice, markets, capitalist market economy, competition, cartels, money illusion, credit industry, consumerism, price fixing, market sharing
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