Debate: Legitimate Commerce? or Outright Fraud?
Posted by davidmcnab 7 years, 9 months ago to Business
A story of Warner Brothers paying reviewers to give positive reviews. What's the perspective of other objectivists here? Is this just legitimate trade? Or is this utter fraud?
On one hand, Warner Bros and the reviewers are in a private commercial contract, and have privacy rights in this respect.
On the other hand, the buying public has a right to know the authenticity or otherwise of their sources of information about a product they are considering buying, and for Warner Brothers to represent their game review as positive when in fact it's not is criminal fraud.
What are your thoughts?
On one hand, Warner Bros and the reviewers are in a private commercial contract, and have privacy rights in this respect.
On the other hand, the buying public has a right to know the authenticity or otherwise of their sources of information about a product they are considering buying, and for Warner Brothers to represent their game review as positive when in fact it's not is criminal fraud.
What are your thoughts?
I stated in my book that if the Corporations made the consumer a priority the stock holders would make out just fine,
Due to subjective perceptions, I've always given reviews very little weight unless I know the reviewer . If I know the reviewer, I at least have a few clues on how their views compare to mine. So those reviews I will give some weight, otherwise not so much.
That opens up another area for debate with freedom of trade - the cost of accurate objective product information. If the cost of information - in terms of energy, money and time - is prohibitive, people will just choose whatever feels right. This makes them susceptible to manipulation, and sends a message to looters that they can trade their way to the top with inferior, smartly packaged product over those who instead dedicate their resources to creating great product. Think - Orren Boyle triumphing over Henry Rearden.
There's a sucker born every minute.
http://www.ptbarnum.org/egress.html
Then again, I'm not convinced that there is such a thing as an objective point of view. Which is why I try to read all sides. I wonder if I'm the only one here who reads both Daily Kos and InfoWars. At the very least, if either group is up to something they'll probably try to recruit me for it.
https://en.wikipedia.org/wiki/Essbase
This stuff has been going on for ages and will never stop. "Let the buyer beware." "A sucker is born every minute." "A fool and his money are soon parted."
To me, personally, Fraud is something that YOU are at fault for, for not doing your research and paying attention. Fraud happens when we each get stupid and do not read the fine print.