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There's no such thing as a free watch (2017)

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Re: There's no such thing as a free watch (2017)

#11

Post by adminu »

timr wrote: post #9
csours wrote: post #6

TANSTAAFL https://en.wikipedia.org/wiki/There_ain%27t_no_such_thing_as... Also, people will pay more for a good story. --- > "25. Maybe this explains what’s so galling to people about the Folsom & Co. not-really-scam: It simply lays bare the categorical deception at the heart of all branding and retail. The different watch values are, in the strictest sense, speech acts: the watch is $29.99 because someone said it’s…

"If Capitalism isn't buying shit and lying about it to sell it for higher, I don't know what Capitalism is. This is only a difference in degree, not kind." I'm neutral on the question in this case, but really, any discussion of "capitalism" that goes beyond chapter one, page one of an undegrad economics textbook covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal…

Well, and advertisement is meant to be "information". Textbook capitalism is just not a good model of real world capitalism.

Re: There's no such thing as a free watch (2017)

#15

Post by [deleted] »

timr wrote: post #9
csours wrote: post #6

TANSTAAFL https://en.wikipedia.org/wiki/There_ain%27t_no_such_thing_as... Also, people will pay more for a good story. --- > "25. Maybe this explains what’s so galling to people about the Folsom & Co. not-really-scam: It simply lays bare the categorical deception at the heart of all branding and retail. The different watch values are, in the strictest sense, speech acts: the watch is $29.99 because someone said it’s…

"If Capitalism isn't buying shit and lying about it to sell it for higher, I don't know what Capitalism is. This is only a difference in degree, not kind." I'm neutral on the question in this case, but really, any discussion of "capitalism" that goes beyond chapter one, page one of an undegrad economics textbook covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal…

[deleted]

Re: There's no such thing as a free watch (2017)

#16

Post by mti27 »

>Instagram-savvy version of the fake watches one sees being hawked on the sidewalks of tourist cities.

I bought a "Tagheuer" watch on the streets of NYC for five dollars. At a glance, it looked OK but by the end of a day's wear it had completely self destructed.

Re: There's no such thing as a free watch (2017)

#18

Post by deogeo »

timr wrote: post #9
csours wrote: post #6

TANSTAAFL https://en.wikipedia.org/wiki/There_ain%27t_no_such_thing_as... Also, people will pay more for a good story. --- > "25. Maybe this explains what’s so galling to people about the Folsom & Co. not-really-scam: It simply lays bare the categorical deception at the heart of all branding and retail. The different watch values are, in the strictest sense, speech acts: the watch is $29.99 because someone said it’s…

"If Capitalism isn't buying shit and lying about it to sell it for higher, I don't know what Capitalism is. This is only a difference in degree, not kind." I'm neutral on the question in this case, but really, any discussion of "capitalism" that goes beyond chapter one, page one of an undegrad economics textbook covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal…

> .. covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal information.

Are 'efficient markets', defined by not being deceptive, and all participants having equal information, a requirement to call something 'capitalism'? Does that mean capitalism has never been tried? How long can such a system last, when it is in the financial interest of a large part of the participants to make the markets less 'efficient', so they can extract a higher price for less work?

Re: There's no such thing as a free watch (2017)

#19

Post by benj111 »

I like the screenshotted (shat?) conversation.

Customer> I can buy this watch for $2 elsewhere.

Retailer> Then why are you here?

On some level, yes they're selling overpriced rubbish, but then everyone else is, especially in fashion. Their sin seems to be making it explicit.

How long before people are buying these watches to make post modern 'statements'?

Re: There's no such thing as a free watch (2017)

#20

Post by edw »

adminu wrote: post #11
timr wrote: post #9

Earlier quoted context omitted.

"If Capitalism isn't buying shit and lying about it to sell it for higher, I don't know what Capitalism is. This is only a difference in degree, not kind." I'm neutral on the question in this case, but really, any discussion of "capitalism" that goes beyond chapter one, page one of an undegrad economics textbook covers the point that efficient markets are not deceptive markets. Participants are assumed to share equal…

Well, and advertisement is meant to be "information". Textbook capitalism is just not a good model of real world capitalism.

It is irksome that people lay all of the horrors of the world at the door of “Capitalism” when people have been scamming, exploiting, and generally screwing each other over since the beginning of time. Capitalism is something that emerged in the Eighteen Century. The word means something and to ascribe every immoral or amoral act that aggrandizes someone to Capitalism is an act of intellectual vandalism. And to forstall the karma-harvesting mosquitos about to descend on my comment with a smug “But Capitalism is not therefore an unalloyed good!” reply, I’m not saying Capitalism isn’t without its problems.
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