Labels and bullshit

I think that schools and parents should spend a lot more time teaching kids to read labels and discern marketing from science and verified statements. One of the problematic trends that emerged from our market economy or highly marketised, monetised society is the rise of wildfire marketing. You’d think that lies or wrong claims would be quickly discovered but often, verification takes time and money and has the nature of a public good so no one invest in them.

Yet the interest of the marketing departments and companies to make claims that can get them customers is so much more. So there is no prize for guessing who would put more resources into the activity and who emerges as winner, at least in the short term.

Question is why has our market economy created such short-termism? The people at marketing departments are measured perhaps by the short term sales figures. The management is assessed based on short term profit and loss or worse, share prices. No one within the transactions have any long term stake other than the consumers.

Besides strengthening consumer bureaus, you will have to strengthen the consumers through education. And that has to start whilst young; and these are extremely long term investments that will pay off for the broad society.