Skip to content
quotesby

[Modern capitalism] is masterful at producing services people don't need and in large part probably don't want. It is brilliant at convincing people that they do need and want them. But it has difficulty turning itself to the production of those services which people really do need. Not only that, it often spends an enormous amount of time and effort convincing people that those services are either unrealistic, marginal or counterproductive.

John Ralston Saul#15

SocietyEthicsCapitalismEconomicsConsumptionNeeds

About this quote

What does it mean?
Modern capitalism excels at selling unnecessary services but struggles to provide essential ones. It often tries to convince people they do not need real necessities.
In plain terms
It is good at selling want, but bad at providing need.
What can you take from it?
Profit motives often distort the provision of essential services.

Where it applies

  • market regulation
  • consumer advocacy
  • public policy

Putting it to work

  • prioritize essential goods
  • regulate misleading marketing
  • assess value beyond price

Questions to consider

  • What does your market prioritize?
  • How do you define a need?

Another view

Innovation in luxury can sometimes spill over to improve basics.

More from John Ralston Saul

  1. [T]he free market may be a good, bad or insufficient idea, but, in any case, it is just a crude commercial code. Now it is regularly equated with or given cred…

    Permalink to quote #14
  2. The individual has been allowed out of his socially constructed cage. That, at least, is the contemporary myth. What is not clear, however, is what that libera…

    Permalink to quote #16
  3. Societies grow into systems. The systems require management and are therefore increasingly wielded, like a tool or a weapon, by those who have power. The rest …

    Permalink to quote #13

Related quotes

  1. Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.

    John Maynard KeynesJohn Maynard Keynes quote #26
  2. I'm afraid for all those who'll have the bread snatched from their mouths by these machines. You are very fond, sir, of talking about the consideration we owe …

    Henrik IbsenHenrik Ibsen quote #6
  3. We must expect for a long time yet to see capitalists still striving to obtain the highest possible profits. But observe, that the passion for wealth is certai…

    Arnold ToynbeeArnold Toynbee quote #8