Corporate greed: Difference between revisions
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Consumer over-reliance on products and a corporation's domination over other businesses may create what's known as a [[Monopoly]], which is '''potentially''' illegal if the company also partakes in anti-competitive practices that harm consumers & restrict competition, as defined by antitrust laws.<ref>{{Cite web |title=The Antitrust Laws |url=https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/antitrust-laws |access-date=5 Feb 2026 |website=Federal Trade Commission |url-status=live |archive-url=http://web.archive.org/web/20260206055025/https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/antitrust-laws |archive-date=6 Feb 2026}}</ref> | Consumer over-reliance on products and a corporation's domination over other businesses may create what's known as a [[Monopoly]], which is '''potentially''' illegal if the company also partakes in anti-competitive practices that harm consumers & restrict competition, as defined by antitrust laws.<ref>{{Cite web |title=The Antitrust Laws |url=https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/antitrust-laws |access-date=5 Feb 2026 |website=Federal Trade Commission |url-status=live |archive-url=http://web.archive.org/web/20260206055025/https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/antitrust-laws |archive-date=6 Feb 2026}}</ref> | ||
=== Consumer Related Issues: === | ===Consumer Related Issues:=== | ||
==Common Tactics Used to Increase Profits:== | ==Common Tactics Used to Increase Profits:== | ||
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#Purposefully decreasing the quality of some products ([[Enshittification]]) 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 |url-status=live |archive-url=http://web.archive.org/web/20260208181720/https://www.makeuseof.com/what-is-planned-obsolescence/ |archive-date=8 Feb 2026}}</ref> | #Purposefully decreasing the quality of some products ([[Enshittification]]) 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 |url-status=live |archive-url=http://web.archive.org/web/20260208181720/https://www.makeuseof.com/what-is-planned-obsolescence/ |archive-date=8 Feb 2026}}</ref> | ||
#Decreasing the average wages of some or all types of employees. | #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'''").<ref>{{Cite web |last=Hebert |first=Amy |date=17 Apr 2024 |title=Do you really own the digital items you paid for? |url=https://consumer.ftc.gov/consumer-alerts/2024/04/do-you-really-own-digital-items-you-paid |access-date= |website=Federal Trade Commission |url-status=live |archive-url=http://web.archive.org/web/20260103231722/https://consumer.ftc.gov/consumer-alerts/2024/04/do-you-really-own-digital-items-you-paid |archive-date=3 Jan 2026}}</ref> | #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 "'''[[Pay-walling|Paywall]]'''" or "'''[[Digital lock]]'''").<ref>{{Cite web |last=Hebert |first=Amy |date=17 Apr 2024 |title=Do you really own the digital items you paid for? |url=https://consumer.ftc.gov/consumer-alerts/2024/04/do-you-really-own-digital-items-you-paid |access-date= |website=Federal Trade Commission |url-status=live |archive-url=http://web.archive.org/web/20260103231722/https://consumer.ftc.gov/consumer-alerts/2024/04/do-you-really-own-digital-items-you-paid |archive-date=3 Jan 2026}}</ref> | ||
#Decreasing the sizes of products while keeping the prices the same(Also known as "'''Shrinkflation'''", and It's more common in supermarkets & retail stores).<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 |url-status=live |archive-url=http://web.archive.org/web/20250804213020/https://keepm.granitlabs.com/blog/predatory-tactics |archive-date=4 Aug 2025}}</ref> | #Decreasing the sizes of products while keeping the prices the same(Also known as "'''Shrinkflation'''", and It's more common in supermarkets & retail stores).<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 |url-status=live |archive-url=http://web.archive.org/web/20250804213020/https://keepm.granitlabs.com/blog/predatory-tactics |archive-date=4 Aug 2025}}</ref> | ||
#Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers. | #Implementation of [[False advertising]] or [[Bait-and-switch]] tactics in a company's commercials to bring in more customers. | ||