The Economics and Politics of Consumer Sovereignty

In a rich society like ours, only a very tiny part of what people want is determined by their physical and chemical makeup. Almost all needs and desires are built on observation and imitation. As a social critic, I may try to change some desires to others of which I approve more, but as an economist...

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Bibliographic Details
Published in:The American economic review 1972-05, Vol.62 (1/2), p.258-266
Main Author: Lerner, Abba P.
Format: Article
Language:English
Subjects:
Approximation
Capitalism
Commercial production
Consumer economics
Consumer sovereignty
Consumerism
Economics
Income inequality
Marginal costs
Marginal products
Market prices
Politics
Public goods
Studies
The Future of Consumer Sovereignty
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Summary:In a rich society like ours, only a very tiny part of what people want is determined by their physical and chemical makeup. Almost all needs and desires are built on observation and imitation. As a social critic, I may try to change some desires to others of which I approve more, but as an economist I must be concerned with the mechanisms for getting people what they want, no matter how these wants were acquired.
ISSN:0002-8282
1944-7981