In last week’s post, I posed the question, “What happened to The New Economy?”
The reality of the new economy is that we don’t create new economic models overnight. Consumers and businesses do not change their habits that quickly. A new economy requires a new generation.
From what we are seeing of the Millennial generation, they could be the ones that create and shape the “New Economy.” They have grown up as empowered consumers who are unrestricted by the conditioned respect for authority and institutions of their parents’ generation. Quite the opposite, they have a cynicism borne from watching the havoc created by banks and greedy investment companies that lead to the world economic crisis.
These consumers are creating a new consumption model called “Collaborative Consumption” or “ The Collaborative Economy,” and it may impact business models in a way that The New Economy never did. In this new economic…
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