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Reform > revolution: finding your economic voice

Refonomy

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I’m not going to stop using Amazon tomorrow. If I did, my girlfriend wouldn’t be getting much for Christmas, and life would be a lot less convenient for me. I am, however, trying to be more mindful of my economic life. Not in the gloomy sense of “oh Christ, I bought an HDMI cable off Amazon, I’ve killed a baby” — instead, I see in front of me an opportunity to express my support and excitement for things and people that I like and care about.

I’m trying more and more to give my money to people with half-decent ethics, to artisans and craftsmen, and to small businesses and members of my community where I can afford to do so. When I’ve got the dough, I’ll get all my suits made by a bloke on Savile Row, out of nice, ethical British wool, from happy little sheep. I’ll get my weekly shop from a farmer. I’ll set up a microgrid and sell energy generated from my toilet waste back to the grid. But for now, I’m going to do what I can, making my economic voice heard as much as possible.

Every economic decision that we make to consciously express our hopes for the world sends a signal to the market. Markets respond to these signals. As more of us express a particular preference for something, markets respond more and more. A great example of this is H&M’s Conscious line, and Zara’s Join Life line. The rise in popularity of niche, sustainability-oriented clothing signalled to the big players in the market that sustainability sells, and the clothing landscape has changed dramatically as a result.

The most trustworthy thing in this world is a man’s economic self-interest. Never trust what a person says. Trust what they do with their money. Signing a petition telling Zara that you want them to be kinder to the planet will achieve nothing. But if you and enough of your like-minded friends all take your business to another brand who advertise their ecological viability, you can bet your house on Zara trying to recapture your custom.

Businesses themselves don’t really care about the environment. This may sound cynical, but why should they? What’s in it for them? Simple. If enough customers care about the environment, then they will get a bigger market share, and a return on their investment. If being kinder to the environment will increase profits, they’ll replant the Amazon before you can say “corporate social responsibility”.

By making these small choices and changes, we are using our economic voice to shape the world we inhabit. Humans are creatures of incremental, iterative improvement. I don’t expect myself or anyone else to be perfect overnight. All I can do for now is be mindful of my transactional life, and reform my economy where I can. And I reckon if we all do the same, we can polish up our world into something pretty decent.

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Refonomy
Refonomy

Written by Refonomy

I’m interested in exploring microeconomic reform and decentralisation. Mainly through Bitcoin.

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