Does an Eastern philosophy imprinted on a plastic wristband afford the wearer health benefits? Some 3 million people thought so, that is until Power Balance, the company that produces the enlightened accessory, recently went bankrupt. What’s more, consumers even paid USD 30 for each bracelet. Accused of false advertising, Power Balance recently settled a USD 57.4m lawsuit for alleging that the bands improved both strength and balance.

Now all that remains of Power Balance’s reputation is the Sacramento Kings’ basketball stadium, the “Power Balance Pavilion”. But judging by their performance – they are second to last in the NBA’s western conference – the Eastern philosophies did not aide them in their performance either. If only Confucious were alive to comment on the scam...