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the death of capitalism

By Jeff Thomas - October 17, 2011

Okay, it's official: capitalism is dead.  Well... if it's not dead yet, it certainly will be soon (I've recently seen the hand-painted signs that insist that it's failed).  I'll admit that this news pains me, because, as a "business owner" and "marketing guy," I arguably may have more to lose than others (gosh... I honestly have no idea what I'll do if capitalism dies).

You know, for years I've heard that marketers are little more than deceivers that push inferior products (largely through lies and misrepresentations) that people don't otherwise want or need.  As painful as that representation of marketing is, it's even more alarming to hear that the selfish desire of a business to make a profit is something just short of evil.

I have no doubt that some marketers will say almost anything to sell their product or service.  I can also concede that some businesses will try to charge more than they "have to" and as a result, realize huge profits.  But I guess I don't really think of consumers as mindless cattle, or children incapable of making their own decisions, and as a result, I believe that ultimately, consumers will determine whether a product or service is one they want or need... and aggregately, whether the product or service should even exist.  And I certainly believe that consumers, with their purchasing power, will ultimately decide what a product or service is worth... and aggregately, will determine what a company can charge.  Because of that, I also believe that only foolish marketers misrepresent the value of their products and services (in word or price) and ultimately, I have no doubt that they will lose their profits and, as a result, their company (and their good name)... and I think that's just as it SHOULD be.

Today, aided by the Internet, we live in the most democratic society that has ever existed.  We, as consumers, have the ability and the freedom to choose what we buy, when and where we buy it, from whom we buy it, and even what we (are willing to) pay for it.  With that freedom comes responsibility—responsibility to research, compare, evaluate, and provide feedback to others.  Now, granted, even with all of that, some companies may charge more for their products and services than they "have to"... but they will never show huge profits if we as consumers aren't willing to pay for it. 

With the passing of Steve Jobs, the world lost one of its most creative minds.  Recently pronounced the most valuable company on the planet (with 35,000 employees, and tens or hundreds of thousands of shareholders), it could be claimed that Apple, Inc. has taken obscene profits... but I love my iPhone, my MacBook Pro, my iPad, and my iPod.  Steve may well have been one of the greatest marketers and profiteers of all time... I sure hope his passing ISN'T the death of capitalism, because he sure showed us how to do it RIGHT!