Consumers have very little choice when it comes to things like cars, electricity company, cable company, etc. In that case it is appropriate to put blame on the companies who have a captive customer base. But with other products like phones, there is nothing compelling consumers to buy the latest except FOMO and greed.
Absolutely, and for products and markets that are essentially necessary to life, there’s a much stronger case to be made for strong regulation since the potential for exploitation is much higher (the nightmare that is the entire healthcare industry exemplifies this perfectly, since market forces don’t work well when you’re unconscious or will otherwise die).
But for luxury items, which high-end smartphones undoubtedly are? Yeah, consumers can take a little bit of accountability.
Consumers have very little choice when it comes to things like cars, electricity company, cable company, etc. In that case it is appropriate to put blame on the companies who have a captive customer base. But with other products like phones, there is nothing compelling consumers to buy the latest except FOMO and greed.
Absolutely, and for products and markets that are essentially necessary to life, there’s a much stronger case to be made for strong regulation since the potential for exploitation is much higher (the nightmare that is the entire healthcare industry exemplifies this perfectly, since market forces don’t work well when you’re unconscious or will otherwise die).
But for luxury items, which high-end smartphones undoubtedly are? Yeah, consumers can take a little bit of accountability.