Definition of consumer sovereignty in English:

consumer sovereignty


mass nounEconomics
  • The situation in an economy where the desires and needs of consumers control the output of producers.

    • ‘There is, however, an additional important element that is critical if monetary calculation is to operate in a way most consistent with consumer sovereignty - sound money.’
    • ‘More serious, the application of consumer sovereignty to real world producers cannot rely on their objective actions, but must probe into their subjective intentions.’
    • ‘Our mission is to establish a worldwide consumer cooperative and to reassert consumer sovereignty over capitalism.’
    • ‘There is no consumer choice and no consumer sovereignty.’
    • ‘The theoretical advantages of consumer sovereignty are clear; but there appear to be transaction costs in switching from the devil one knows.’