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Just because we should expect companies to increase their profits at the expense of consumer welfare doesn't mean it's socially responsible or desirable to let them do so or to be untroubled by it. While I agree that people can make desicions for themselves they can only do so with the information they are given, we shouldn't allow them to be inundated with pressure to continue overspending and then blame only them for their poor decisions. Poor advice contributes to poor decisions.
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1 of 2: > Just because we should expect companies to increase their profits at the expense of consumer welfare doesn't mean it's socially responsible or desirable to let them do so Agreed—and if we look back to medicine in the pre-FDA days (before 1906), we see what happens without a watchdog: dangerous products that would make wild claims of miraculous cures with zero evidence behind them.
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2 of 2: > [People] can only do so with the information they are given . . . Poor advice contributes to poor decisions. True, especially when it comes to things like stock investments, where we're paying to "trust the experts." That being said, there are plenty of areas where we can more readily resist media pressure: having the latest model car, fashions, electronic gadgets, etc.
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I am like krazycp - I use cash. It really helps me to decide what I am going to purchase and not purchase. No impulse shopping for me. If I go into a store with a certain amount of money and a list, I am conciously deciding what to but and what not to buy. Great video!
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> No impulse shopping for me. If I go into a store with a certain amount of money and a list, I am consciously deciding what to but and what not to buy. It's not the American Way, and for that I say—congratulations! > Great video! Thanks!
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I view the money that I do make as a trade of my limited life span for the money, so I'm in no rush to squander the amount of my life I invested in obtaining the money.
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