The new consumer and the sharing economy
Caveat emptor: Satisfaction not guaranteed
In earlier centuries, most people lived in what could be termed an "essentials economy." They grew or made what they could and bartered for or purchased only those additional items they absolutely needed in order to get by. As modern consumerism took hold in the early to mid-twentieth century, the most developed markets happily transitioned to an "accumulation economy." With leading economists and politicians preaching the gospel of consumerism as an essential driver of economic growth, citizens in wealthier countries were exhorted to spend freely and often. And...