Wednesday, October 10, 2007

"The tyranny of the market"

Joel Waldfogelexplains the idea behind his book: sometimes the market will not address the desires of minority groups. While this is true, most of the time there is not much society (through government) should do about it. Exceptions include things like mandates to accommodate the disabled. I have thought about the tyranny of the majority through individual market choices before, but I think the problem comes more with the creation of societal norms. For example, once enough people acquire a cell phone, or check their email daily, or do some other activity, others will be expected to do the same. These unwanted expectations can be aggravated through social status competition. How many young couples spends thousands or tens of thousands of dollars more on a wedding because of modern American cultural norms regarding what is acceptable?

2 comments:

R Subrosa said...

i thought that said 'the tranny of the market'. but i was wrong.

angry little owl said...

i think you should stop thinking so much about the money we're expected to spend on this thing and focus on how much you love me. also, we are totally rad and d.i.y. and our expensive cheap wedding is going to rock.