Fear of Persuasion: A New Perspective on Advertising and Regulation
Should consumers fear advertising? Thanks to this international study, the answer is clearly 'no'. Equally clear is advertising's role in promoting competition and reducing prices. Moreover, advertising does not exploit consumers. On the contrary, consumers exploit advertising, using it to obtain the information they want and need. And far from supporting monopoly power, advertising is the key to breaking it down. Advertising has proved essential for the introduction of new products - so crucial to efficient free market economies - and for the dissemination of information - so crucial to consumer education and choice. Governments that restrict or ban advertising will only raise prices, sustain monopolies, freeze markets, deny consumers information and generally harm their own interests. These are conclusions John Calfee draws from a provocative analysis of economic evidence from around the world - much of which will be new to readers.
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Foreword by James K Glassman
Advertising Under the Influence of Consumers
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