Answer to Question #49370 in Microeconomics for Aatish Karki

Question

Advertising is tasteless, offensive and a nuisance that wastes resources. Give three arguments against this idea.

Answer 1

Nevertheless, advertizing has some benefits:
- Economic: useful tool for sustaining honest and ethically responsible competition by informing people of the availability of rationally desirable new products and services and improvements in existing ones
- Political: helps counteract tendencies toward the monopolization of power by informing people of the ideas and policy proposals of parties and candidates
- Cultural: can exert a positive influence on decisions about media content; contribute the betterment of society by uplifting and inspiring people and motivating them to act in ways that benefit themselves and others. Importance of witty, tasteful and entertaining advertising, even to the point of becoming art.
- Moral and Religious: communicate messages of faith, patriotism, tolerance, compassion and neighborly service, charity, health, education