Technology in the recession | Less is Moore | The Economist
Could this credit crunch be modifying our behaviors?
Current popular press in the US likes to talk about how frugal everyone is being - darning socks and baking at home again. But it feels a bit too much like a fad to be seen to be more modest, while at the same time to be reading one's Martha Stewart magazine.
The Economist picks up this from a technology point of view, as hardware and software have now perhaps got to the point where we can get what we need and want. But I think it's more about the computing power being more than sufficient these days for all the communication and home movies that most of us deal with.
So, a crunch of 18 months has limited impact on behavior. Londoners seem very willing to believe the housing bubble can re-inflate quickly. In a perverse way, this still needs to get worse if we are to see any benefit in more modest wants.
Could this credit crunch be modifying our behaviors?
Current popular press in the US likes to talk about how frugal everyone is being - darning socks and baking at home again. But it feels a bit too much like a fad to be seen to be more modest, while at the same time to be reading one's Martha Stewart magazine.
The Economist picks up this from a technology point of view, as hardware and software have now perhaps got to the point where we can get what we need and want. But I think it's more about the computing power being more than sufficient these days for all the communication and home movies that most of us deal with.
So, a crunch of 18 months has limited impact on behavior. Londoners seem very willing to believe the housing bubble can re-inflate quickly. In a perverse way, this still needs to get worse if we are to see any benefit in more modest wants.
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