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CMV: We don't have a free market resting on the economic principle that consumers make rational decisions because the multi-billion dollar a year advertising industry urges us to make irrational purchasing decisions. : changemyview
Upvoted: I was watching a Noam Chomsky interview yesterday and he made a really great point, I thought, about the contradiction inherent in our economic system, and therefore our society as a whole.Economics teaches us that consumers make rational decisions, and from this principle we extrapolate economic theory, and justify our "free market" capitalist system. But Chomsky makes the point that the advertising industry (and, by political extension, the PR industry) runs on selling things to people that they really don't need. In a sense, much of our economic system is driven by irrational choices."Advertising has us working jobs we hate so we can buy shit we don't need" - in other words (Tyler Durden).If this is the case, we don't have a free market, and the economists don't have any foundation to their theory that we make informed and rational purchases as consumers.This is a footnote from the CMV moderators. We'd like to remind you of a couple of things. Firstly, please read through our rules. If you see a comment that has broken one, it is more effective to report it than downvote it. Speaking of which, downvotes don't change views! Any questions or concerns? Feel free to message us. Happy CMVing! via /r/changemyview
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