Author Paul C. Henry (University of Sydney) conducted a study in Australia to reveal the ways consumers view themselves, other credit card holders, and companies that provide credit. "Despite the relatively high public profile of opinions and legislative action, there is a startling lack of understanding as to how mainstream consumers actually think about their own rights and responsibilities related to credit cards," Henry writes.
Henry examined articles from major Sydney metropolitan newspapers, consumer complaints about credit cards, and government literature. He also conducted interviews with non-activist consumers.
Despite the common appeals for instant gratification that consumer society presents, Henry found that consumers valued ideals of prudence and self-control. For example, commonly held ideas that prize individual autonomy and self-reliance led to moral judgments of people burdened with high credit card debt. "The upshot of this lack of sympathy for those with card difficulties is the common perception that 'you got yourself into this, then you have to get yourself out of the hole,'" Henry explains.
Even though many western nations are experiencing calls for greater consumer protection, the study suggests that consumer advocacy is a top-down phenomenon. "Governments are keen to associate themselves with advocacy groups on low-risk popular issues, in order to enhance their political credibility; and where media commentators have found an easy target in sensationalist stories of corporate evil," writes Henry.
"Overall, informants in this study displayed little stomach to stand up and push for greater consumer protection. This included debt-free and deep-in-debt people," Henry writes. "The political and moral tensions, illustrated above, combined with lack of time and energy contribute to this state. Add to this the fact that most people are reasonably prudent with their card usage and don't see the need for more regulation, it appears that any future regulative enhancements will continue to be driven from top-down."
Paul C. Henry. "How Mainstream Consumers Think About Consumer Rights and Responsibilities." Journal of Consumer Research: December 2010 (Published online May 10, 2010).
Mary-Ann Twist | EurekAlert!
Europe’s Demographic Future. Where the Regions Are Heading after a Decade of Crises
10.08.2017 | Berlin-Institut für Bevölkerung und Entwicklung
Scientists reveal source of human heartbeat in 3-D
07.08.2017 | University of Manchester
Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.
Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...
For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.
While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...
An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.
The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...
A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.
Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...
Researchers from the University of Miami (UM) Rosenstiel School of Marine and Atmospheric Science, the Italian Space Agency (ASI), and the Instituto Geofisico--Escuela Politecnica Nacional (IGEPN) of Ecuador, showed an increasing volcanic danger on Cotopaxi in Ecuador using a powerful technique known as Interferometric Synthetic Aperture Radar (InSAR).
The Andes region in which Cotopaxi volcano is located is known to contain some of the world's most serious volcanic hazard. A mid- to large-size eruption has...
16.08.2017 | Event News
04.08.2017 | Event News
26.07.2017 | Event News
16.08.2017 | Physics and Astronomy
16.08.2017 | Materials Sciences
16.08.2017 | Interdisciplinary Research