valuable information and guidance as to the ways and means whereby their wants can be satisfied and their purchasing power can be best utilized. To the extent to which this holds true, advertising is a service to the community. But there is a large reservation to be made on this head. Advertising is competitive ; the greater part of it aims to divert purchases, etc., from one channel to another channel of the same general class.* And to the extent to which the efforts of advertising in all its branches are spent on this competitive disturbance of trade, they are, on the whole, of
»nd diplomacy, none of which differ from ordinary cunninj; in anything but the de^cree of adroltneBs by wliich the victim is outwitted. In this way social lite U ooropieteiy honeycombed with deception." — "The pHycholngic Basis of Social EkHinomlcs," jinn, of Am. Acad., Tol. m. pp. 83-81 [*:6-i78].
'Fogg-Meade, "Place ol AdvertlBlng in Modem Boaines," pp. 218, 221-236.
- AdTertifling and other like eipedienla for the sale of goods aim at changes in the "substitution values" of the good« in question, not at an enhancement of the aggregate utilities of the available outpnt of goods.