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The effect of advertising
Advertising influencing the society we live in
The effect of advertising
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Galbraith sees conventional wisdom as “simple, convenient, comfortable, and comforting-though not necessarily true” (Levitt and Dubner, 86). Conventional wisdom is used as a means to understanding the world and make one’s ideals seem reasonable. This conventional wisdom is used by experts, advertisers, police men, and your next door neighbor; how they use it differs depending on their own self-interests. In the book Freakonomics, the expert makes up his own statistics to make a large number of people aware of a problem. This population then takes the statistic as conventional wisdom and it spreads like wildfire. Advertisers do almost the same thing; they make the public aware of some problem (bad breath) and then the public picks up on it.
All of a sudden having bad breath is an awful thing and needs to be fixed. Depending on whose self-interest it is, the conventional wisdom will change. Though changing the public’s opinion isn’t always easy. It all depends on the incentive for everyone involved. Experts and advertisers need people to agree with them to sell more in the long run; police officers (and the community) want their city to seem safe to bring in more people. Self-interest is the cause of conventional wisdom.
Summary In chapter one of Freakonomics, the beginning portion of the chapter discusses information and the connection it shares with the Ku Klux Klan and real-estate agents. The Ku Klux Klan was founded right after the Civil War, in order to persecute and subdue the slaves that were newly freed. The popularity of the Klan increased in the early 20th century, around the time of World War I. In the late 19th century, the Klan had only discriminated, persecuted, and subdued Blacks, but in the 20th century they did these things to Blacks, Jews, and Gypsies.
This article is all about the effects of advertisements. There are many things that advertisements have affected and people don’t even realize it. One main key thing that this article talks about is targeting the vulnerable
“What We are to Advertisers” by James B. Twitchell is a short article that emphasize how advertisement attracts audience magically. From the quote, “ Mass production means mass marketing, and mass marketing means the creation of mass stereotypes” James points out of how the world appear to be. The advertisers seems to be psychologically abuse to the public for them to be successful in their industry. Base on the way the society act, dress and thinks, we fantasize something ridiculous and only our imagination can only make it close to a reality. With that in mind, the industry of advertisements will immediately think of a way to try and sell their product to us.
Written by Steven D. Levitt and Stephen J. Dubner, Freakonomics is built upon three major philosophies: incentives are the fundamentals of life, experts on a subject use their knowledge as an advantage to serve their own wellbeing, and orthodox wisdom is wrong most of the time. This book goes into detail to explain the mindsets of humans, from school teachers to sumo wrestlers, through statistics. Levitt and Dubner claim that when the data is closely examined it can relate to more concepts than originally hypothesized. The style of this informative piece is very precise yet, at the same time, very concise and to the point. The tone carried throughout the book is informative and knowledgeable. The authors use distinct tactics to get points across
It is considered to be the model of what society’s perceptions of reality is, that we have based our society on .These views are extremely conservative, people have become so reliant on these they are reluctant to change them. Galbraith states that problem with conventional common wisdom is that it does not adjust well with change. “The conventional wisdom accommodates itself not to the world that it is meant to interpret but to the audience’s view of the world. Since the latter remains with the comfortable and the familiar, while the world moves on, the conventional wisdom is always in danger of obsolescence.”(Galbraith 11). Galbraith used many examples to prove how the conventional common wisdom failed. One example used was when conventional wisdom pushed a balanced budget during the great depression which ultimately was designed in a manner that was only going to make things much worse. I agree with the argument Galbraith made on this topic being stuck in ideas that don’t move or make adjustments are going to become irrelevant like conventional common wisdom is always in danger of becoming. For example if a code of conduct from the 1960s was used in today’s schools system it would not work because it wouldn’t address many issues like electronic device usage in a classroom it wouldn’t even have a way to handle such a
While people think drug dealers earn a lot of money, it is actually only the people in the top of the pyramid who earn a lot of money. That is why most of the other drug dealers have to live with their moms.
A number one bestseller many say is grasping in amazement: Freakonomics is said to unravel the untold stories of life. Steven D. Levitt and Stephen J. Dubner break common misconceptions of economics by revealing its true science. Freakonomics shatters the view of economics being an arid study of finance and markets. They pull in information to make inferences on past occurrences subtly influence on the present. Freakonomics packs punches with its countless number of tables and figures, serving as concrete data to make their assumptions. Levitt & Dubner in the beginning identify the fundamental Latin phrase post hoc ergo propter hoc in the sentence, “…just because two things are correlated does not mean that one causes the other”, due to their entire novel being based on correlation. Freakonomics’ explicit exploration of the hidden side of everything captivate economist with unmentioned inferences backed up with reasoned correlation, linking compelling topics to shatter misconceptions about controversial stories, ending with a brief consensus of economic pattern limitations.
“So if sumo wrestlers, schoolteachers, and day-care parents all cheat, are we to assume that mankind is innately and universally corrupt? And if so, how corrupt?” (Levitt and Dubner 43). In my opinion this rhetorical question summarizes Chapter 1’s findings and poses two different sides of an argument. The author finds that cheating is more common when an individual is placed into a win or lose situation. The incentive to cheat is the concept that an individual is getting more for less. So, similarly to how teachers may change their students’ test scores to get a higher pay or praise, sumo-wrestlers might rig matches to obtain a higher ranking. To analyze how incentives cause teachers and sumo wrestlers
This chapter's main idea is that the study of economics is the study of incentives. We find a differentiation between economic incentives, social incentives and moral incentives. Incentives are described in a funny way as "means of urging people to do more of a good thing or less of a bad thing", and in this chapter we find some examples public school teachers in Chicago, sumo wrestling in Japan, take care center in Israel and Paul Feldman's bagel business of how incentives drive people and most of the time the conventional wisdom turns to be "wrong" when incentives are in place.
"Anybody living in the United States in the early 1990s and paying even a whisper of attention to the nightly news or a daily paper could be forgiven for having been scared out of his skin... The culprit was crime. It had been rising relentlessly - a graph plotting the crime rate in any American city over recent decades looked like a ski slope in profile... Death by gunfire, intentional and otherwise, had become commonplace, So too had carjacking and crack dealing, robbery, and rape. Violent crime was a gruesome and constant companion...
If you are ever in need of an entertaining read, I would highly recommend Freakonomics for many reasons. I enjoyed reading Freakonomics, and I think you would too. Freakonomics is a book written by economists, Steven D. Levitt and Stephen J. Dubner, that “explores the hidden side of everything.”
Advertising is designed to get information from the companies to the consumers. With that being said, there are several ways in which companies will go about this to ensure that their information is relayed to the consumers effectively and efficiently. According to George N. Root, from Demand Media, “advertising uses misguided promises of desired results to convince customers to purchase a product.” Nancy Day expresses in her book, when there are many of the same products, companies need to convince the public that their product is superior. Which results in an increase in the demand for advertising (7-8). This is when informative advertising turns into manipulative advertising. Root goes on to explain that advertising agencies use manipulative techniques such as “expert” opinion, attractiveness, lifestyle, and fear to control their audience.
Nowadays, advertisements are everywhere embedded in our daily life. They are powerful resources that inform people the latest news about a particular product or brand in many different ways. Most of the people are being able to get more information and detail of a product from media, radio stations, newspapers and internet. Even though advertising is a big informative source, it also can be considered as a marketing tool to control the mind and desires of the consumers to manipulate and persuade them to buy things they do not need.
Consumers pay millions of dollar for an advertisement campaigns, but word of mouth advertisement is absolutely free and reliable. This type of marketing spread quickly and effectively among consumers. (Jacques Bughin, 2010)