David Harvey, the geographer economist, telling Laurie Taylor, the radio sociologist, that, ’Modern economics has buried its head in detail, but ignored the systematic character of capital flow’ made me think of what we could learn from important retailers.
Finding out about inventive baptist, J.C.Penney, shopkeeper as entertainer, Gordon Selfridge, and staff-as-partners inventor, John Lewis, I realize that the world’s economic difficulties might be solved by learning from these great retail strategists.
Writing ‘Paul Smith and the Global shopping game’ for ‘the new black magic’ I discovered that each of these gurus recognized that their staff are always their first customers.
In other words, people, working with new objects of desire, want to own them. They can, if they are paid enough.
So just as Keynes worked out that if governments invest, in services, capitalism can continue, this thought could be applied directly back to capitalism itself.
By paying all Fashion workers decent wages, especially those who are traditionally undervalued, and adjusting salaries for the movers and shakers in the Fashion industry, it would be possible for the economic recovery to be democratized.
So if Barack Obama, or our next PM, reads this blog perhaps he will speak to his team and set new policies in motion. They may need to read ‘FASHION, MEDIA, PROMOTION, the new black magic’ to make them work!