The concept of information symmetry states that markets work best when both sellers and buyers have full information about the costs and benefits of their buying and selling behaviours. Best Women’S Fat Burner Pills: Top 7 . And when it comes to Australian processed food labels, information is stacked heavily in favour of the seller.
Food companies collect reams of information about consumers (just think of supermarket loyalty cards), allowing for targeted advertising, pricing points and product placement. Yet most Australians find existing food labels confusing. To make an “informed choice” we have to interpret not only nutrition information panels, but also an array of (sometimes misleading) health claims.
Junk food advertising is also big business in Australia: in 2009 A$402 million and $149 million was spent on advertising food and non-alcoholic beverages respectively. McDonald’s alone increased its advertising spend from $6 million in 1983 to $55 million in 2005.
Food labels are confusing. jacopast, CC BY-SA
Why do companies advertise? Because it drives consumer behaviour in powerful ways. 2 Buy Women’S Fat Burning Pills Online. Especially when it comes to children and their pester power, much to the disdain of many parents.
Coming back to information asymmetry, advertising is less about communicating information as it is about conveying symbolic and social meaning – products come to be associated with fun, happiness, sex appeal and prestige rather than information about their underlying costs and benefits in terms of health.
The end result is we’re trying to exercise personal responsibility in a food environment that’s engineered to undermine it. Food is available everywhere at any time. It is full of sugar, fat and salt – nutrients we’re hard-wired to crave. Per calorie, it has never been cheaper.
The information we have to inform our choices is heavily skewed by advertising and confusing labels. Fat Burning Pills For Women. Government has done little about it. And we – as a nation – are fat.