Category Archives: economics

The Return of Stealth Wealth

To American ears, this approach might sound callous. But according to Morris-Glennon, the British class system has a staggering influence on the country’s work attire. What you wear offers insight into where you are in life and where you used to be. As Morris-Glennon puts it, “In England especially, the more money you have, the less you care about clothing. The old money sometimes, you wouldn’t be able to pull them out of a crowd.” She narrows her eyes and says slowly, “The last person you’d think was a billionaire is the billionaire.”

https://www.vogue.com/article/industry-hbo-style-fashion

A robust and standardized framework for reuse measurement is needed. Here’s why

Only 14% of plastic packaging is collected for recycling, with an effective recycling rate of approximately 2% globally. Reusable packaging, designed to be used several times, is necessary to reduce total virgin material consumption, emissions and waste generation by keeping resources in circulation.

Measurement and reporting is a significant barrier to scaling reuse models of consumption. There are currently no standardized and tested metrics to track progress on reuse, which is critical for companies to fully understand the economic, consumer and environmental benefits of reusable business models. Organizations still tend to operate in siloes, using different reuse metrics and calculation methodologies. Standardization of reuse metrics across industry, government and standard-setting institutions will accelerate the systemic shift toward reuse models.

https://www.weforum.org/agenda/2022/09/plastic-waste-reuse-measurement?utm_source=linkedin&utm_medium=social_scheduler&utm_term=SDIM2022&utm_content=26/09/2022+00:00

Jolly Crowds of Damien Hirst Fans Showed Up For the IRL Conclusion to the Artist’s NFT Experiment. Here’s What They Had to Say

“The Currency” launched in July 2021 as a collection of 10,000 NFTs, each corresponding to one of 10,000 unique spot paintings by the U.K.’s richest artist. Those who acquired one of the NFTs, originally for $2,000, had the option to keep the digital token or exchange it for the physical artwork.

“I find it fascinating,” Elphick told Artnet News. “I wanted to see where it led. [Hirst] is obviously quite clever about trying to migrate the kind of physical collector into the digital world, whereas everyone else is potentially predominantly doing digital straightaway.”

https://news-artnet-com.cdn.ampproject.org/c/s/news.artnet.com/market/damien-hirst-the-currency-exhibition-2180681/amp-page

The Dream of an ‘Internet Country’ That Would Let You Work From Anywhere

Plumia, which has thus far received 5,000 applications to join, isn’t the first to propose an Internet country. Wirtland launched in 2008 with “witizens” and its own currency and Bitnation arrived in 2014 as a “voluntary crypto nation,” but Plumia is the first to be backed with investor money—health insurance provider SafetyWing has financed the project since its December 2020 launch. Acceptance would be somewhat selective. Citizens of Plumia would be required to pass background checks, a familiar requirement for those familiar with Global Entry, but would also have to share their employment information and annual income.

https://time.com/6211405/internet-country-plumia-remote-work/

Analyzing Hybrid Work

I have been getting students in my Fall Analyzing Trends class at Parsons School of Design – The New School up to speed in mapping speculative past/futures over the last few weeks. We started off by looking at the topic of hybrid work that has been in the news so much of late. As companies begin to put a stake in the ground on where they might sit in designing the meaning of work.

The archetypal extremes of “everyone back” (Tesla) to “work anywhere” (Airbnb) frameworks have been getting the most attention as to where work and the office might be going next. From the evolving design of offices from open plans to the emerging new types of privacy needs, to the ways technology and human skills begin to overlap and hint at possible emerging unknowns that will impact education, skills, and sustainable investment. #work#foresight#speculativedesign#mural#midjourney

Chief Metaverse Officers Are Getting Million-Dollar Paydays. So What Do They Do All Day?

Pressure to keep up with tech trends has spawned new C-suite titles for decades. The 1980s saw the rise of the chief information officer, who understood the inner workings of IT and how it applied to broader business strategy. Later, chief technology officers emerged as big-picture thinkers who could evaluate developing technologies and how they might be used in the long term. More recently, chief digital officers have sought to modernize outdated business practices so companies don’t get “Amazoned,” or steamrolled by a nimbler, more tech-savvy rival.

https://www.bloomberg.com/news/articles/2022-09-22/what-is-a-chief-metaverse-officer-and-do-you-need-one

How fast fashion can cut its staggering environmental impact

‘Fast fashion’ is so called partly because the fashion industry now releases new lines every week, when historically this happened four times a year. Today, fashion brands produce almost twice the amount of clothing that they did in 2000, most of it made in China and other middle-income countries such as Turkey, Vietnam and Bangladesh. Worldwide, 300 million people are employed by the industry.

But incredibly, more than 50 billion garments are discarded within a year of being made, according to a report from an expert workshop convened by the US National Institute of Standards and Technology (NIST), published in May.

https://www.nature.com/articles/d41586-022-02914-2?utm_term=Autofeed&utm_campaign=nature&utm_medium=Social&utm_source=Twitter#Echobox=1663357413

Circular value chains in fashion: Strengthening trust in second hand markets

The World Economic Forum, Ralph Lauren, Bain & Company, Vestiaire Collective and EVRYTHNG have launched a global alliance of manufacturers, suppliers, consumers and regulators that leverages digital traceability to drive circularity and sustainability.

https://www.weforum.org/impact/strengthening-trust-in-second-hand-markets/