The ethics of consumer sovereignty in an age of high tech

Abstract

Consumer sovereignty in an increasingly high tech world is more of a fiction than a fact. This study shows how the principle of consumer sovereignty that governs the societal impact of economic competition is no longer valid. The world of high tech is increasingly responsible for changes in the opportunity, ability, and motivation of business firms to compete. Furthermore, the world of high tech is increasingly responsible for changes in the opportunity, ability, and motivation of consumers to engage in rational decision making. Consumer sovereignty cannot be relied upon to maintain a thriving economy. Instead, performance standards designed to meet the demands of the various stakeholders of the organization need to be developed.