Markets Both Serve and Reflect Societies
An interesting example of market transformation can be seen in the growth of worldwide spending on beauty products, which reached $440bn in 2024. There are various trends (or pressures) at work, with men now feeling freer to spend on beauty products and demand growing among young people, who are purchasing such products at much earlier ages than their grandparents. Social media has played a significant role: as influencers share their beauty regimes, the online space is becoming the biggest shop window for the beauty industry. Additionally, there has been a shift in the marketing and consumption of beauty products, as consumers have become increasingly interested in the ingredients of the products that they buy and their supposed effects. In consequence, packaging is now plainer and bears something of the ‘laboratory look’.
Calls for Regulation
Naturally there are concerns about trends among young people. With reports that beauty products are now being bought by children as young as eight, there has been alarm at the loss or increasing sexualisation of childhood, as well as concern about the damage that certain products can do to children’s skin. In consequence, there have been calls for regulation. It is normal to seek restriction or regulation of products that are deemed harmful, as witnessed in relation to tobacco, for instance, and more recently in connection with tobacco alternatives, such as of vapes and nicotine pouches. In connection with the beauty industry, one might wonder whether (or hope that) a ban on social media accounts for under-sixteens, as implemented in Australia and currently under consideration in the UK, will have an effect. Regulation in one sphere might affect associated behaviour in another. If young children are heavily invested in ‘beauty’ in an unprecedented manner – to the point of talking about anti-ageing products before they reach their teens – and social media influencers are in part responsible for driving such an interest, then restrictions on social media access could go some way towards addressing the problem. However, it is important to consider whether regulation is the answer.
Disenchantment, Re-Enchantment and Meaning
The thought of the sociologist Max Weber (1864-1920) perhaps offers one means of shedding light on the issue. Weber described the phenomenon of ‘disenchantment’ and its effects on society. With the advance of reason and scientific principles, it becomes increasingly difficult to believe in spirits, gods or supernatural forces, with the result that the influence of religion and superstition is diminished. As the world becomes demystified and science is able to explain everything in rational terms, the world loses its mystery and appears mechanised and predictable. However, science cannot adequately fill the void created by the ousting of religion and people are no longer able to find the kind of meaning once provided by the values grounded in traditional beliefs; moral questions can be articulated and analysed, but not satisfactorily answered.
Some have questioned Weber’s account of the disenchantment of society, while others have proposed the possibility of re-enchantment: meaning and value – if they have indeed been lost – can be restored to the disenchanted world, either by projecting subjective values onto it, or by locating value as objectively existing in nature itself.
One interpretation of a shift in the market for beauty products might employ these concepts. Is the move towards a greater interest in the active ingredients of cosmetics a sign of an increasingly ‘scientific’ mindset, as society becomes more rational? Or is this in fact a form of re-enchantment, whereby ‘science’ – however ‘science’ is understood – is elevated to the status of religion and becomes a new dogma or article of faith? Do those who seek to buy plainly packaged cosmetics that resemble medicines display a tendency to deify ‘science’, almost to the point of seeking purpose and meaning in it? If influencers with questionable credentials in dermatology are helping to drive sales, perhaps such an account is not so far-fetched.
Perhaps the disenchantment thesis is able to make some sense of the disproportionate interest in beauty among young people, with children buying – or being given – adult cosmetics. In a disenchanted society in which transcendent values and traditional notions of meaning are lacking, preferences are shaped by other forces – or themselves become the locus of value and meaning. In either case, they can become disordered and unrestrained. Might skewed and superficial notions of beauty, driven in part by the forces of consumerism and assisted by social media, be behind the behaviour of some children? Where certain values have lost their influence, it is possible that people no longer see anything wrong with eleven-year-olds using anti-ageing products. If that is what they want and their parents have no objection, the thought might run, then so be it.
Regulation and Values
It is no surprise that there are calls to regulate access to social media for children. Social media – or its excessive use – has been associated with all manner of ills. The question is whether restriction will solve the problem. Likewise, we might ask whether, should the trend towards childhood use of adult cosmetics reach a scale at which it is felt that something must be done to protect the physical and developmental health of children, regulation would prove effective.
Markets simply match vendors with buyers, and it is something of a truism that businesses, if they want to survive, adapt to markets – or seek to shape them – in order to be able to offer a product for which demand exists. In the sense that the demand side of the ‘supply and demand relationship’ characteristic of markets is shaped by societal values, it is clear that markets do not simply serve society; they reflect it, too. When we hear calls for regulation to address problems, it is important to consider whether regulation can achieve the desired outcome. For instance, what manner of legislation could ever prevent parents from buying anti-ageing or beauty products for their barely-teenage children? In the absence of parental oversight, can any regulation really prevent determined teenagers from accessing social media? Parents who buy £1,000 phones and let their children scroll through social media until the small hours, or buy expensive, adult cosmetics for their children because ‘this is what she wants’ or ‘these are what her friends have’ are arguably not matters for regulation. These are questions of values.
Markets can only serve a society because to some degree, they act as a mirror of that society. Where markets are an expression of who we are or what we have become, concerns ought perhaps to be directed not at the statute book with a view to controlling the market itself, but at our own values: the attitudes of the society that the market both reflects and serves.
Image by Freepik (www.freepik.com)
Neil Jordan brings to CEME seventeen years’ experience of academic publishing, having previously served as a senior commissioning editor for Ashgate and Routledge where he specialised in research level publications in the social sciences. His primary focus was on sociology and social theory. Neil has also been employed as a teacher of philosophy and religious studies. He holds bachelor’s and doctoral degrees in philosophy, both from the University of Southampton, and has published on the subject of ethics.