When all that matters is price, petty rip-offs abound

Once, market forces and the power of brands and reputation provided reassurance. Many businesses took a long-term view and valued their customers’ loyalty. But a more opportunistic outlook on the part of big companies means that, in many markets, reputations have fallen so low that consumers expect nothing and get little. All the petty frauds I have described were perpetrated by well known companies.

In these circumstances, competition is no longer the answer to the problem of tariff complexity but a means of spreading the practice of petty fraud. The company that offers a fair price loses business to the company that provides the misleading tariff.

When all that matters is price, petty rip-offs abound