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by Eoan 2353 days ago
In economics, you can examine the information people to use to make decisions: signalling. A classic example is a species of antelope that leaps into the air to (possibly) signal its health to predators: https://en.wikipedia.org/wiki/Stotting

An important problem in human societies, which become complex enough to examine 'memes' as elements of culture (in the original, Dawkins sense, not just the 'familiar pictures with text' sense), is that people learn 'signals' without verifying their accuracy.

Making business more honest is about getting society to use more accurate signals, which comes from, basically, work, but also awareness of the necessity of doing that work.

Defining where, exactly, the boundary between honest and dishonest is can be difficult. Is it dishonest to sell a pair of shoes that costs $2 to make for $200?

The way that more accurate signalling can fix this is that people would not assume that the $200 pair of shoes is better. Or they would not assume that someone who owns the $200 pair of shoes has some beneficial quality that they would currently associate with it.

Will not get into how to improve signal accuracy, as there's no chance my explanation would lead to the solution being used.