The central problem of a free market is also its greatest strength: it relies on the people making the purchases to decide what constitutes a good product or service. It asks us to vote with our wallets.<p>This works best when the individual educates him&#x2F;herself about each purchase.<p>However, when individuals make purchases based on popularity rather than merit, or based on what they&#x27;re used to, their ability to vote with their wallet suffers.
And when producers begin to settle into a position of comfortable mediocrity, when they refuse to compete and improve, they also hurt the consumer&#x27;s ability to vote with their wallet.