Companies respond to consumer behaviour and we need to show them there is a reason to change
Wants are a funny old thing, human beings all have something they want. You, me, a pauper or a billionaire- despite our differences in race, income or education- all have common ground in one thing, we all "want" something. This forms the premises of what economists call the basic economic problem, to sum it up in no more than a few words- Human wants are infinite, but resources are scarce.
Imagine how society initially reacted to the introduction of the motor car, or the TV set. These things are now fully, and warmly, embraced like a family member and regarded as the social norm.....but what about the impact of technology on human emotions?
As we all know, the world is pretty weird right now - American politics, North Korea, climate change, fast fashion, landfill waste... The list goes on. But here are three important unnatural phenomena that have managed to largely slip under the radar.
So, an airline has collapsed in a world where we all seem to be enduring a very bumpy ride. It may come to symbolise more, as will the Grenfell fire tragedy and an apparent disregard for fundamental food safety. But one small lesson to start from might be that we cannot expect to keep delivering more for less money.
To cite Oscar Wilde, too many of us know the price of everything, but the value of nothing. Thankfully, transparency is now determining price tags much more than before and consumers will vote with their purses. Economics of scale state that it's the global companies who have the most capacity to foster systemic change, so let's hope that 'luxury' leads the way.
There's a new business buzzword. Seen it a couple of times recently and I reckon it's the start of a trend. It's the application
“After moving down to London, I spent the first three months in an very edgy state and my spending was out of control. When feeling particularly panicked about work one day, I spent £160 of my overdraft on this hideous tan leather jacket with leopard print and bright pink lining from one of the weird leather shops in Camden.”
“After moving down to London, I spent the first three months in an very edgy state and my spending was out of control. When
The time has finally come: ethical consumerism is going mainstream! It's exciting to have seen the ethical mindset become a more widely-recognised and accepted concept, and in ways that are natural and low-effort too.