The character is formed during the first few years of life, and the corporations have an impact on the way we think... so consumer sovereignty... is not realistic, because producers spend an incredible amount of money in order to condition children and youth to drink Coca-Cola, to depend on the iPhone, to go to hamburger joints, to McDonald's... So adult economics, forget it! You've got to start the analysis with children, and that means that tastes are endogenous [determined within the economic system! ...The assumption of exogenous tastes is toxic.]

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "The character is formed during the first few years of life, and the corporations have an impact on the way we think... so consumer sovereignty... is not realistic, because producers spend an incredible amount of money in order to condition children and youth to drink Coca-Cola, to depend on the iPhone, to go to hamburger joints, to McDonald's... So adult economics, forget it! You've got to start the analysis with children, and that means that tastes are endogenous [determined within the economic system! ...The assumption of exogenous tastes is toxic.]" in the context of "" to mean that wisdom is timeless.