Corporate greed: Difference between revisions

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'''Corporate greed''', or simply greed, is a modern phenomenon in which corporations pursue goals for profit and shareholder-value without valuing customer thoughts and consumer rights. <ref>https://aflcio.org/issues/corporate-greed</ref>

'''Corporate greed''', or simply greed, is a modern phenomenon in which corporations pursue goals for profit and shareholder-value without valuing customer thoughts and consumer rights.<ref>https://aflcio.org/issues/corporate-greed</ref>

==Common Tactics Used to Increase Profits:==

#A company simply increasing the prices on products & [[Subscription service]]'s alike for no apparent reason.

#A company simply increasing the prices on products & [[Subscription service]]'s alike for no apparent reason. (Also known as "Price Gouging")

#Using targeted/personalized ads in order to gain more data on someone, only to sell that data to more advertisers & third-party websites.

#Purposefully decreasing the quality of some products to save money and/or to encourage consumers to buy newer & more powerful items to replace the older ones. (Also known as "[[Planned obsolescence]]")

#Purposefully decreasing the quality of some products to save money and/or to encourage consumers to buy newer & more powerful items to replace the older ones. (Also known as "[[Planned obsolescence]]")<ref>{{Cite web |last=Jalan |first=Ayush |date=7 Jun 2023 |title=What Is Planned Obsolescence? How Brands Keep You Buying |url=https://www.makeuseof.com/what-is-planned-obsolescence/ |website=makeuseof}}</ref>

#Decreasing the average wages of some or all types of employees.

#Retroactively restricting access to features on items that you've already bought/paid for to push you into giving more money to use previously freely accessible features (more commonly known as a ~~paywall~~ or ~~digital~~ lock).

#Retroactively restricting access to features on items that you've already bought/paid for to push you into giving more money to use previously freely accessible features (more commonly known as a "Paywall" or "Digital lock").

#Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers.{{~~Citation needed~~|date=~~January 19, 2026~~|~~reason~~=~~Citation is needed for all 6 tactics listed above &~~ to ~~the left~~.}}

#Decreasing the sizes of products while keeping the prices the same(Also known as "Shrinkflation", and It's more common in supermarkets & retail stores).

#Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers.<ref>{{Cite web |date=11 Jan 2025 |title=Spotting Predatory Business Tactics: A Consumer's Guide to Self-Defense |url=https://keepm.granitlabs.com/blog/predatory-tactics |access-date= |website=keepm}}</ref>

==See also==

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 {{StubNotice}}
-'''Corporate greed''', or simply greed, is a modern phenomenon in which corporations pursue goals for profit and shareholder-value without valuing customer thoughts and consumer rights. <ref>https://aflcio.org/issues/corporate-greed</ref>
+'''Corporate greed''', or simply greed, is a modern phenomenon in which corporations pursue goals for profit and shareholder-value without valuing customer thoughts and consumer rights.<ref>https://aflcio.org/issues/corporate-greed</ref>
 ==Common Tactics Used to Increase Profits:==
-#A company simply increasing the prices on products & [[Subscription service]]'s alike for no apparent reason.
+#A company simply increasing the prices on products & [[Subscription service]]'s alike for no apparent reason. (Also known as "Price Gouging")
 #Using targeted/personalized ads in order to gain more data on someone, only to sell that data to more advertisers & third-party websites.
-#Purposefully decreasing the quality of some products to save money and/or to encourage consumers to buy newer & more powerful items to replace the older ones. (Also known as "[[Planned obsolescence]]")
+#Purposefully decreasing the quality of some products to save money and/or to encourage consumers to buy newer & more powerful items to replace the older ones. (Also known as "[[Planned obsolescence]]")<ref>{{Cite web |last=Jalan |first=Ayush |date=7 Jun 2023 |title=What Is Planned Obsolescence? How Brands Keep You Buying |url=https://www.makeuseof.com/what-is-planned-obsolescence/ |website=makeuseof}}</ref>
 #Decreasing the average wages of some or all types of employees.
-#Retroactively restricting access to features on items that you've already bought/paid for to push you into giving more money to use previously freely accessible features (more commonly known as a paywall or digital lock).
+#Retroactively restricting access to features on items that you've already bought/paid for to push you into giving more money to use previously freely accessible features (more commonly known as a "Paywall" or "Digital lock").
-#Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers.{{Citation needed|date=January 19, 2026|reason=Citation is needed for all 6 tactics listed above & to the left.}}
+#Decreasing the sizes of products while keeping the prices the same(Also known as "Shrinkflation", and It's more common in supermarkets & retail stores).
+#Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers.<ref>{{Cite web |date=11 Jan 2025 |title=Spotting Predatory Business Tactics: A Consumer's Guide to Self-Defense |url=https://keepm.granitlabs.com/blog/predatory-tactics |access-date= |website=keepm}}</ref>
 ==See also==