⟳ Репост от Mary Branscombe
Information asymmetry ‘lemon problem’ - unable to tell at a glance *which* goods are high quality, consumers assume they are all relatively low quality and thus only pay for cheap ones
Max Dubler 🏳️🌈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.