Sunday, January 11, 2009

Bullshit Promises

Professor Elizabeth Warren has a pointer on bullshit promises. Dr. Warren, my favourite on the subject, has been at it for quite a while now - battling powerful lobbies. Bullshit promises are about overtly promising something really appealing but actually using disclaimers actually promising exactly opposite - sort of trapping a consumer. Authors Curtis Bridgeman and Karen Sandrik dissect bullshit promises in great detail. Another of my favourite blogger, Yves Smith at nakedcapitalism, comments on key points.
One of the outcomes of this financial crisis I am looking forward is reversing this balance. For long we have corporate enjoying more benefits against consumers. Prof. Elizabeth Warren intends to change that. When she succeeds, we will have much better balance of power between buyer and seller that is core to revival.