From Checkout to Walkout: How You Can Redefine Market Dynamics

Written by Elli Jin (C’27); Edited by Hope Sheridan (W’26)

In a world ridden with social dilemmas, people have been utilizing various tools to drive social change, one of which is market power.

A quick refresh on our freshman introductory microeconomics course reminds us that, in a mostly free-market society, the economy is run by the invisible hand, or the variations in pricing that often arise from changes in the supply and demand of the output and labor markets. We often forget that these basic models are applicable to the real world, in which we, even as students, act as both consumers in the output market and labor suppliers in the labor market. This dual role is what provides us with potentially substantial power over the markets, which can influence our political system.

One example in which we can redefine market dynamics as a consumer in the output market is boycotting. Some studies conclude that boycotting is not always an effective measure against affecting a company’s revenue. And while it is true that the efficacy of boycotts and similar methods rely on the consistency and magnitude of participation, when done correctly, boycotting provides tangible results. This is evident throughout much of history: the Montgomery Bus Boycotts of 1955-56, the Anti-Apartheid Movement of 1959, and more recently, the boycotts on Starbucks and McDonalds.

Another example in which we can redefine market dynamics as a labor supplier is striking. Even in the 19th century, strikes were utilized as a strong negotiation tactic. Some examples of successful strikes include the Great Railroad Strike of 1886, the UPS Worker Strike of 1997, and the SEPTA Police Union Strike of 2023.

While it is true that one person can do minimal damage to changing the policies and values of massive companies, we, as a collective body, have the great power to bring about necessary societal change.