Something that is a bargain is good value, usually because it has been sold at a lower price than normal.
But a bargain is different from buying cheap. Cheap implies low retail price, with likely several skeletons in the cupboard. The quality of the product is probably lower, leading to shorter life cycle, the materials used for making it being sourced unsustainably, the workers not being paid fair and living wages, the supply chain conditions and terms most likely being unfavorable to most involved. In other words, to make sure the end consumer buys an item cheaply, the hidden costs borne by nature and the communities involved in getting the item to the shelves are hidden. They are not accounted for. Yet, if we adopt a bigger picture thinking, we see the pollution and labor rights infringements deep in the value chain in other parts of the world happen for our sake. And therefore we should account for them and call for a True Price approach. Even better, ask companies to apply the Impact-Weighted Accounts Framework. These approaches are still niche, but they are critical for getting a full-picture accounting, to help consumers make more informed decisions.
Now, a bargain - who doesn't like one? Bargains happen on the second-hand markets where the initial owner and the new owner both can get a sense of a win-win deal, they are in charge of the terms and the perceived value of the objects exchanged. A bargain is rarely cheap.
Comments