We aren't fans of Paul Krugman but his Nobel Prize in economics for "having shown the effects of economies of scale on trade patterns and on the location of economic activity" is too easy a pot shot for a fashionista that likes to talk supply chain efficiencies and large scale clothing orders. Thus with the help of H&M's supply chain we demonstrate just how easy Krugman's theories are to understand. The global diffusion of fashion's trade patterns depends on the demand of voracious fashion consumers buying up bulk orders of skinny jeans or other trendy items, the location of skilled workers, the relative impact of textile tariffs, and the cost of shipping. Fashion spans the globe from one style capital to another in an endless parade of trend manufacturing and production.
So next time someone tells you fashion isn't a serious subject go all global trade patterns on them and demonstrate your in depth knowledge of supply chain management and how it affects trade patterns. Just be sure to keep an eye on the tariff situation! That will get you every time.
Ever pick up a tunic from Forever 21 for $15 and wonder just exactly how it could cost so little? Art Box Diary turned us on to a little video called The Story of Stuff. Using a $5 radio from RadioShack we are taken on a journey around the world to discover just why this little radio is so cheap. It turns out to be a parable loosely based on an aphorism popularized by science fiction writer Robert Heinlein and economist Milton Friedn: "There Ain't No Such Thing As A Free Lunch." The concepts of TANSTAAFL refers to the opportunity costs of any given activity. In order to get one thing cheaply something else has to be given up. But what exactly is being given up hmmm if we aren't the ones paying the cost? That is the story of stuff in a nutshell.
What does this mean for fashionistas? Well we like to think its a perfect reason for buying luxury goods over fast fashion. But wait you can't a good pair of designer pants? Think again. We don't really need to own dozens of pairs of pants that fall apart season after season only to be replaced with the newest and trendiest cut. Just buy one great pair of basic pants and focus on getting the best price to value ratio you can. You will not only be cutting down on extraneous consumption but you will have a much better wardrobe for it.
Image From Racked.comCheck out other Shoutouts here.
Ever pick up a tunic from Forever 21 for $15 and wonder just exactly how it could cost so little? Art Box Diary turned us on to a little video called The Story of Stuff. Using a $5 radio from RadioShack we are taken on a journey around the world to discover just why this little radio is so cheap. It turns out to be a parable loosely based on an aphorism popularized by science fiction writer Robert Heinlein and economist Milton Friedn: "There Ain't No Such Thing As A Free Lunch." The concepts of TANSTAAFL refers to the opportunity costs of any given activity. In order to get one thing cheaply something else has to be given up. But what exactly is being given up hmmm if we aren't the ones paying the cost? That is the story of stuff in a nutshell.
Butterfly
Latest Comments