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Should We STOP Bargaining, START Paying More?

Posted on Friday, Dec 6th 2019
Photo by Sharon McCutcheon on Unsplash

Human beings love bargains. There is something hardwired into our brains that makes us seek a good deal. Some cultures, especially the Indian and Chinese, have an extraordinarily sharp elbow around this tendency. But most human beings have it to some degree.

I have been thinking about Conscious Capitalism for a while. As you know, my version is titled Distributed, Democratic, Inclusive Capitalism.

Of late, triggered by certain personal experiences, I have come to conclude that this very human tendency of driving a hard bargain, especially if you are rich, is counterproductive to a healthy social order.

Let me explain.

This summer, I organized a large event in India. Among the various individuals and small businesses that I worked with were those who built the tent, those who provided the chairs, a videographer, a number of professional musicians, a caterer, a sound engineer, an electrician, so on.

I did not negotiate prices with any of them. I decided upfront that supporting these professionals in an honorable way is the best kind of philanthropy that I could possibly engage in. I am not looking for the cheapest vendor. I am looking for someone trustworthy who does good work and is trying to make an honest living. I am happy to pay a premium to engage such a person/team.

Yes, this takes away from other ways I can contribute. I could be donating to any number of philanthropic organizations. 

But I prefer this method.

I like supporting human enterprise.

If we take my logic further, we would arrive at the question: Should We STOP Bargaining, START Paying More? Please weigh in. I am listening.

Photo by Sharon McCutcheon on Unsplash

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