You can go onto any forum or talk to groups of people in real life. You can look at product reviews and arrive to the same conclusion. Wherever you look, people want ever-cheaper products. I went onto a forum only recently, where people were often complaining that one product was ‘overpriced’ because there were so many cheaper options. When I looked at the products, the difference was this: one of them was made by a western company (often small and niche) in the UK/US/(insert any other developed country), while the other one was often made in a developing country (mainly Asia) by a huge conglomerate.
It is very clear to me that overheads in developed countries are much higher than in developing ones where conglomerates often benefit from government funding in terms of R&D, so that their products can be sold even cheaper and they remain competitive in the global market. A lot of the ‘overpriced’ products are also sold by small businesses that unlike the big multinationals can’t get out of paying tax. Often, these businesses then choose to focus on the upscale luxury market. But then, people who can’t afford their products complain that they are ‘too expensive for what they are’.
With the current economic environment being the way it is, I can understand people’s need to tighten their belts. But I also see the dangers here. Whether you are a lawyer, accountant or a cleaner - if businesses in developed countries can’t make money, it will trigger a chain reaction and your life (should you live in a developed country) will be impacted. Jobs and wages will decline, and with it your standard of living. Who knows - maybe that's already the reason many people complain about stagnating wages.
Oftentimes, we don’t even want the products to be cheap because we really need them, but because we want the option of having them. How many of us buy cheap vegetables that then rot in our fridge, because we didn’t even use it?
Am I worried for no reason? Or will the quest for ever-cheaper products get us into trouble one day?
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To think that the quest for ever-cheaper products will harm us
8 replies
SnowBells · 01/06/2016 10:02
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