2 ms·
>”Let consumers make their own choice.” Consumer choice is predicated on information symmetry that does not exist in this market. Consumers make the wrong choi
by intopieces 7y ago
>”Let consumers make their own choice.”
Consumer choice is predicated on information symmetry that does not exist in this market. Consumers make the wrong choice all the time and it’s the company that allowed it to happen that pays for it in the form of bad PR.
See: YouTube and the weird kids content. There wasn’t anyone stepping up to defend Google with the argument that “Google was just letting consumers (parents) make the choice.”
- pfranz 7y agoThank you for bringing up "information symmetry." I feel like this is always missing in discussions of free markets and capitalism. To me, information asymmetry is what most regulations are trying to address (package labeling, testing, process standards). In areas where consumer/producer already have the same information regulations aren't needed and cause unnecessary problems.