The Frugal Economy

[Bandon Langer]

I won't post the whole article but there was a few interesting bits I'd like the great minds of the INTERNET to consider:

the reason Western economies are organised like a pyramid, with a few large producers at the top and millions of passive consumers below, is the existence of transaction costs — the intangible costs associated with search, bargaining, decision-making, and enforcement. But with the internet, mobile technologies, and social media all but eliminating such costs in many sectors, this economic structure is bound to change.
.
A protracted financial crisis, which has weakened the purchasing power of middle-class consumers in the West, and these consumers’ increasing sense of environmental responsibility
.
Such changes are propelling the so-called maker movement: A legion of tinkerers who collectively can create products faster, better, and more cheaply than big companies can. Together, the maker movement and peer-to-peer sharing platforms are empowering once-passive customers to become active ‘prosumers’, thereby spawning a frugal economy that can create value in a more efficient, cost-effective, socially inclusive, and environmentally sustainable way.

Do we have hipsters and hippies to thank/blame? Do you take environmental/ethical factors into account when purchasing goods?

In the US (ie, the Western cultural trend setters) websites where people trade their skills are swelling with members and activity. It started off as a meeting place whereby a sparky would do a job for a chippy if a chippy did the return for the sparky. This way much money is saved due to things being off the books as there is no money involved, just an exchange of favours. But now, these same barter websites are filled with people exchaning every day goods such as somebody exchanging 12 surplus eggs from their own hens in return for a 6 pack of homebrew and so on.

So, what says the Proc, is this just a few hippies and hipsters getting media attention (lets face it, journalism is infested with hipsters) or are we seeing the beginnings of a real turn away from the traditional economic commerce model?

 

[sigourney's knickers]

... or are we seeing the beginnings of a real turn away from the traditional economic commerce model?

Heh heh.

Well well well.

So, the question is now entering mainstream.

Well

Well

Well.

The last time I heard that question was towards the end of last dot com bubble.

 

[Lame Duck]

I won't post the whole article but there was a few interesting bits I'd like the great minds of the INTERNET to consider:

So, what says the Proc, is this just a few hippies and hipsters getting media attention (lets face it, journalism is infested with hipsters) or are we seeing the beginnings of a real turn away from the traditional economic commerce model?

It's interesting but i dont think ultimately that peer to peer is going to have an enormous effect on the world economy. people still buy shit in offline regular shops and will continue to do so. it just offers another option to trade.

 

[How bad boy]

Barter is not scalable or divisible.
It's highly inefficient, so will only ever be a niche interest.
Some argue that the 'sharing economy ' is merely risk transferring based on a down at heel workforce, people don't share their stuff or engage in casual labour that is classed as underemployment because they enjoy it.

The bit on Coase wildly simplifies his theory of the firm, organisational memory, structures and specialisation are just as important in the theory of the firm. Being a self employed contractor imposes costs and requires a few basic skills and mindset to pull off.

Many neither possess the skills or have the mindset to succeed at it.

 

[Wumble]

Barter is not scalable or divisible.
It's highly inefficient, so will only ever be a niche interest.
Some argue that the 'sharing economy ' is merely risk transferring based on a down at heel workforce, people don't share their stuff or engage in casual labour that is classed as underemployment because they enjoy it.

The bit on Coase wildly simplifies his theory of the firm, organisational memory, structures and specialisation are just as important in the theory of the firm.

I'll trade you 100 tonnes of my very best potatoes every year for the next 23 years in exchange for some pitchblende!

 

[How bad boy]

I'll trade you 100 tonnes of my very best potatoes every year for the next 23 years in exchange for some pitchblende!

Do you have change for a goat? The parking meter doesn't accept anything bigger than an egg.

 

[Wumble]

Do you have change for a goat? The parking meter doesn't accept anything bigger than an egg.

I can give you a kid, five kittens and a dead gerbil.

Any good?

(Don't ask how the gerbil died. That's personal.)

 

[jeepers]

Do you have change for a goat? The parking meter doesn't accept anything bigger than an egg.

I think we might have a goat here that you can take away for free. You can use him to scare away parking wardens/clampers.

 

[How bad boy]

I can give you a kid, five kittens and a dead gerbil.

Any good?

(Don't ask how the gerbil died. That's personal.)

Throw in a (live) chicken and we have a deal. I'm sure a dead gerbil will get me 20 minutes parking. It'll definitely fuck up the meter.

I think we might have a goat here that you can take away for free. You can use him to scare away parking wardens/clampers.

I don't want your dodgy angry goat, you tried to palm the same fucker off on me last week in exchange for an hour's phone credit.
I didn't fall for it then and I'm not falling for it now.

 

[jeepers]

Throw in a (live) chicken and we have a deal. I'm sure a dead gerbil will get me 20 minutes parking. It'll definitely fuck up the meter.



I don't want your dodgy angry goat, you tried to palm the same fucker off on me last week in exchange for an hour's phone credit.
I didn't fall for it then and I'm not falling for it now.

He's not always angry and he's really good with youtube. I'll give you twenty minutes of map making with one bespoke layer of your choice if that phone credit is still going a begging.