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Free markets are finding defenders in the most unlikely places. In Dave Chappelle’s most recent stand-up routine on Netflix, he offered insightful commentary on the benefits of free trade with China. Chapelle noted that while U.S. consumers like products from China like iPhones and Nikes, we enjoy using them far more than we would enjoy making them. He also emphasized that without trade, the cost of an iPhone would be significantly higher and out of reach for most people. While making his audience laugh, Chappelle highlighted one of the timeless truths of the free markets: they are able to bring consumer items to all people, bridging economic and social divides.
Markets have recently found yet another Hollywood hero: reality star and entrepreneur Kim Kardashian West. With the February relaunch of her cosmetic products, she highlights that in market economies, the powerful make their profits through serving others, regardless of their background. This is showcased by the fact that the relaunch was prompted by consumer complaints over the price of her products.
June - Kardashian - West - Beauty - Line
Last June, Kardashian West launched her own beauty line, KKW Beauty. She has long been celebrated in the beauty community for bringing the art of face contouring into the mainstream. Therefore, it makes sense that her first release would be contour kits. However, the initial reviews were mixed. Many beauty gurus were disheartened by the small amount of product. Between the four shades in each kit, there were only about 3.6 grams worth of makeup, yet the kits sold for almost $50. For comparison, Rihanna has released her own line of contour sticks with over 7 grams of product for half the price.
Despite the backlash, Kardashian West’s launch was a success by any measure; her line sold out of 300,000 kits within three hours. The high level of initial sales and...
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