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September 02, 2010

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GregLinster

Nice post Kent! At what point does creating perceived value become unethical for an entrepreneur? Pull up a Google search and one will be bombarded with a host of ads for products and services that clearly contain purposeful deception in order to create value.

Value can also be created by instilling fear or worry. I struggle with this concept of selling an illusion ethically.

Do you have to believe in your product or service wholeheartedly or is it acceptable to sell an illusion? I'd love to hear your thoughts on the ethics.

Cheers,
Greg

Kent @ The Financial Philosopher

Thanks Greg!

To some degree, most of what we see in the world of commerce is illusory; and the Internet certainly adds to the illusion.

Business websites, for example, can be designed in a way that makes any business look large, important, trustworthy, experienced, and so on. In reality, however, the business might be run by a college student in his dorm room.

I do not believe that creating the perception of value is inherently unethical unless the person or entity putting forth the perception (or illusion) cannot deliver to the end-user the value it portends.

On a smaller, more intimate level, we see illusions everyday; and they are collectively known as marketing.

If the contents and price of two packages, for example, are identical but one has ugly packaging and another has attractive packaging, which will sell first?

Illusion sells and we're buying. For this reason, and on a separate note, I think that blind people have much to share about their perceptions...

"I can see, and that is why I can be happy, in what you call the dark, but which to me is golden. I can see a God-made world, not a man-made world." ~ Helen Keller

Thanks for commenting...

Kent

Thanks

I agree Kent. I have a question.

I´m speculator (call it financial trader). I live in a catholic country and of course a speculator is for the majority someone who is not able to create value.

Of course I don´t think in that way. I buy when others want to sell and I sell when others want to buy, helping to create liquidity wich is a real social function.

My question is (a lot off the topic), What I do (pure speculation)is considered an entrepeneur job by americans? An is considered to create value for the society?

Regards

Kent @ The Financial Philosopher

Thanks:

When you "sell when others want to buy," this is fundamentally creating perceived value.

As for you being considered an entrepreneur by Americans, we can first consider an American definition of entrepreneur (according to Mirriam-Webster's online dictionary):

"one who organizes, manages, and assumes the risks of a business or enterprise"

I believe your speculation as a financial trader fulfills a function in society. If you are trading with your own money (not that of an employer), you are assuming the risk of your trades; therefore you may consider yourself an entrepreneur.

Cheers...

Kent

Thanks

Thank you for the explanation.

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Thank you for the Post. I agree with the first comment. There are onl 2 ways to motivate a buyer - greed and fear. Appeal to either my greed or fear, convince me that the price you ask is a reasonable one, and the the money would do less good in my pocket than access to that you are offering would, voila, we have a functioning economy.

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About Kent Thune


  • Kent Thune is a philosopher who happens to be a money manager and freelance writer... Read More

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