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!
Win-win strategies for climate and food security
02.10.2017 | International Institute for Applied Systems Analysis (IIASA)
The personality factor: How to foster the sharing of research data
06.09.2017 | ZBW – Leibniz-Informationszentrum Wirtschaft
University of Maryland researchers contribute to historic detection of gravitational waves and light created by event
On August 17, 2017, at 12:41:04 UTC, scientists made the first direct observation of a merger between two neutron stars--the dense, collapsed cores that remain...
Seven new papers describe the first-ever detection of light from a gravitational wave source. The event, caused by two neutron stars colliding and merging together, was dubbed GW170817 because it sent ripples through space-time that reached Earth on 2017 August 17. Around the world, hundreds of excited astronomers mobilized quickly and were able to observe the event using numerous telescopes, providing a wealth of new data.
Previous detections of gravitational waves have all involved the merger of two black holes, a feat that won the 2017 Nobel Prize in Physics earlier this month....
Material defects in end products can quickly result in failures in many areas of industry, and have a massive impact on the safe use of their products. This is why, in the field of quality assurance, intelligent, nondestructive sensor systems play a key role. They allow testing components and parts in a rapid and cost-efficient manner without destroying the actual product or changing its surface. Experts from the Fraunhofer IZFP in Saarbrücken will be presenting two exhibits at the Blechexpo in Stuttgart from 7–10 November 2017 that allow fast, reliable, and automated characterization of materials and detection of defects (Hall 5, Booth 5306).
When quality testing uses time-consuming destructive test methods, it can result in enormous costs due to damaging or destroying the products. And given that...
Using a new cooling technique MPQ scientists succeed at observing collisions in a dense beam of cold and slow dipolar molecules.
How do chemical reactions proceed at extremely low temperatures? The answer requires the investigation of molecular samples that are cold, dense, and slow at...
Scientists from the Max Planck Institute of Quantum Optics, using high precision laser spectroscopy of atomic hydrogen, confirm the surprisingly small value of the proton radius determined from muonic hydrogen.
It was one of the breakthroughs of the year 2010: Laser spectroscopy of muonic hydrogen resulted in a value for the proton charge radius that was significantly...
17.10.2017 | Event News
10.10.2017 | Event News
10.10.2017 | Event News
20.10.2017 | Information Technology
20.10.2017 | Materials Sciences
20.10.2017 | Interdisciplinary Research