March 31st 2014, 11:16
Economist John Kenneth Galbraith was one of the first to identify 'revised-sequence' markets which, unlike the ordinary consumer-driven variety, are driven by a corporation, which controls the consumer's attitudes and values and so creates product demand. Or, to put it more simply, theyinvent the problem to sell the solution.
As American political activist Ralph Nader once remarked, "In any industry, the sellers become very acute in appealing to those features of a human personality that are easiest to exploit. Everyone knows what they are. It's easiest to exploit a person's sense of fear . . ."