He who harnesses a horse must sidestep its manure, and he who drives a car must inhale its exhaust. And so, we as a free society must simply accept the reality of advertising, along with its social consequences. First I will review the effects of advertising, both negative and positive. Then I will propose a way that we can maybe have our cake and eat it too. The Negative Effects of Advertising Distortion of Market processes The ideal free market consists of perfectly informed, rational maximisers, and indeed, almost all microeconomic models begin from this assumption.
Advertising tries to create just the opposite of a perfect market.
It spreads disinformation, psychologically manipulates the consumer, and even deceives, at least as much as it can legally get away with. Similarly, the advertiser doesn't want consumers who, clearly understanding their own needs and desires, purchase exactly those products which maximise their individual utility. He wants consumers who, confused and vaguely discontent, buy whatever he is selling , which has nothing to do with what would really make them happy. But this is not how advertisers operate. Instead, they co opt and manipulate existing demands, by creating false expectations in the mind of the consumer, associating new products with basic human desires, such as the desire for success, sex, or health.