Post

I think my most genuinely unpopular take is that a widely held and genuine consumer preference for cheaper, lower-quality goods, not private equity, is driving the decline in quality of consumer goods like clothing and housewares.

Consumers used to select their purchases from what was available at local stores, which were stocked with goods chosen by professional buyers looking for quality and value.

Online shopping eliminated these gatekeepers and disintermediated the market, allowing consumers to express their desires more directly. And it turns out that what people really want is cheap disposable goods, not more expensive but higher quality stuff that lasts a long time.

Blaming this on villainous far-away capitalists is what the kids call “cope.”

Extremely related point: people don’t want to pay more for quality, they want to be cheap and complain!

When real wages have just about stagnated since the 1980s for most people, the only option people really have for attempting to improve their quality of life... is to buy slightly cheaper items For people whose wages have not stagnated (the top 9%) premium products are in high demand

Median numbers cover up a lot, don't they?

This shows that incomes have risen significantly at every level since 1980.