Comment by squarefoot
6 years ago
"A lot of luxury goods brands destroy their unsold merchandise"
This also happens since probably forever with fruit and vegetables if they're unsold or in overproduction. The reason is to keep prices fixed by artificially reducing the offer.
Fruit and vegetables and other perishable goods will effectively self-destruct if unsold anyway, so I don't see that as being quite as bad as deliberate destruction of product that would otherwise last indefinitely.
If what I remember about the Great Depression from my history lessons is correct, the picture becomes quite different when you have farmers and vendors destroying food to keep the price up next to masses of people starving because they can't afford the food.
That was my point. It still happens everywhere, which I find disgusting.
And if one's looking for the reason why so many people complain about the market economy, that's one reason. This is all economically sound, but beyond that, utterly fucked up.