Sep 07 2014

Strasser Response

Published by at 3:53 pm under Reflection Blog

Though I’ve never been talented at economics, Strasser’s explanation and backstory of credit in America interested me. In the smaller mom-and-pop stores, it was alright for grocers to simply keep tabs for their customers. However, they were warned not to give their friends any special treatment, yet the idea of trusting customers in general with tabs seems like special treatment in comparison to paying for items today. I hadn’t heard of people paying for things “on the book” but it seems like a fair system, almost like a less automated credit card.

In following the economics of buying groceries, the earlier chapters by Strasser outlining price differences by brand was also interesting and obviously not a new idea. For example, a t-shirt marked with one company’s logo could be significantly more costly than one without any labels. Once America warmed up to the idea of brand loyalty, consumers just couldn’t be stopped. Now over one hundred years later, we find ourselves with brand preferences that run deep.

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