Will the COVID-19 Be the Death of the 20th Century Consumer Economy?

Somebody asked me, is COVID-19 a symptom or a cure?

What is wrong with us?

Symptoms of Consumer Atrophe

• Warehouse & Westfield Closed – indicates downshift in consumption of non-essential consumer items by consumers
• Cruise Ships, Air Travel, Tourist Operations Closed – indicates downshift in consumption of commodity tourism for non-essential purposes by consumers
• Supply Chain & Manufacturing Closed – indicates downshift in consumption of primary commodities which feed into the non-essential consumer vehicles, appliances, furniture, clothing for consumers
• Suspension of Rent, Mortgage and Credit Repayment Demands – indicates an emerging awareness of the debt slavery status of most consumers
• Kids Riding Scooters in the Street – indicates a re-allocation of the biggest consumer misallocation of resources of all time

Prognosis for Recovery

• Welfare emergency payments for consumers will be used much more thoughtfully as the concept of essentiality starts to invade the consumer economy
• Forced haitus of shopping behaviour triggers a redevelopment of capacities for curiosity, boredom, trail and error,
• Forced haitus of eating out behaviour triggers a redevelopment of capacities for creativity and planning, and new curiosity about the sources and supply chains of food.
• Forced sessation of jobs stimulates new awareness of importance of meaningful work. (Note: Job is a transactional exchange of hours of labour as an input commodity to means of produciton for wealth creation – it is always paid and rarely remembered; Meanigful Work is a relational interaction of provision between people with skills and people with needs – can be unpaid, but it is never without meaning)
• Forced haitus of schools triggers an appreciation of the importance of deep, wide learning - Schools are not daycare, universities are not degree-granting businesses.

These factors influence the prognosis that the Consumer Economy cannot recover, and indicate the metamorphosis of the consumer and re-emergence as the citizen/caregiver/assistant/teacher/problem solver...

Risk of Relapse

The most powerful interests in relapse to the consumer economy and consumer citizenship of the 20th Centruy will invest unlimited effort and wealth in managing the narative of recovery of the economy. They will not see any benefit for the transition to the regenerative economy and real-value relationships.

Innoculation

Thus, to reduce the risk of relapse, an innoculation of the citizenry as they transition to the work of regeneration will be crucial. The innoculation could be an effective counterfactual narative that elucidates the projects and relationships of the new regenerative economy, and builds the new financial organization and interaction platforms, laws and regulations that facilitate the transition and support the emergence and ascendency of regenerative enterprises.