Comments on: In the Golden Age of Commerce…. Social and Financial Contracts http://www.whitneyhoffman.com/2008/09/22/in-the-golden-age-of-commerce-social-and-financial-contracts/ Digital Media Diatribes and More Sun, 05 Feb 2012 22:46:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Whitney http://www.whitneyhoffman.com/2008/09/22/in-the-golden-age-of-commerce-social-and-financial-contracts/comment-page-1/#comment-325 Whitney Mon, 22 Sep 2008 15:30:25 +0000 http://www.whitneyhoffman.com/?p=325#comment-325 Beth, I totally agree. One of the biggest problems we have is getting solicited for new credit cards and ways to get into economic trouble, almost with every financial transaction we make. From Target to Airlines to Victoria's Secret, banks are pushing affinity cards at every turn. And then we wonder why there's a credit crisis, when we've never bothered to teach people how to use and choose credit wisely. There's a difference in what you "can" afford and what you "should" do. It may still be a Caveat Emptor world- the buyer beware, but with the amount of small print and with temptation at every turn, it's like having a Weight Watchers meeting at Chocolate World, or an AA meeting at the local liquor store. financial booby traps are set up everywhere, and only those who know how to avoid them will survive. Beth, I totally agree. One of the biggest problems we have is getting solicited for new credit cards and ways to get into economic trouble, almost with every financial transaction we make. From Target to Airlines to Victoria’s Secret, banks are pushing affinity cards at every turn. And then we wonder why there’s a credit crisis, when we’ve never bothered to teach people how to use and choose credit wisely.

There’s a difference in what you “can” afford and what you “should” do. It may still be a Caveat Emptor world- the buyer beware, but with the amount of small print and with temptation at every turn, it’s like having a Weight Watchers meeting at Chocolate World, or an AA meeting at the local liquor store. financial booby traps are set up everywhere, and only those who know how to avoid them will survive.

]]> By: Beth Harte http://www.whitneyhoffman.com/2008/09/22/in-the-golden-age-of-commerce-social-and-financial-contracts/comment-page-1/#comment-324 Beth Harte Mon, 22 Sep 2008 15:21:54 +0000 http://www.whitneyhoffman.com/?p=325#comment-324 Whitney, a great post. I agree, there is so much of a disconnect between consumers and big business. One thing that you said really struck me... "People feel little moral compunction about screwing a big nameless, faceless company, but they feel differently about disappointing their neighbors." I think this works the other way as well. A lot of corporations will sell futures or not care if the family they are giving a loan to will struggle once that adjustable rate changes. I am hopeful that with more social networking that we will both meet somewhere in the middle. Grameen Bank is truly wonderful. If more companies could follow in their path. :) Whitney, a great post. I agree, there is so much of a disconnect between consumers and big business.

One thing that you said really struck me…

“People feel little moral compunction about screwing a big nameless, faceless company, but they feel differently about disappointing their neighbors.”

I think this works the other way as well. A lot of corporations will sell futures or not care if the family they are giving a loan to will struggle once that adjustable rate changes.

I am hopeful that with more social networking that we will both meet somewhere in the middle.

Grameen Bank is truly wonderful. If more companies could follow in their path. :)

]]>