English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

London fashion week has got me pondering...

Is fashion a bad thing in the sense that it encourages a disposable society where clothes which are perfectly functionable are disgarded as they are considered unfashionable - therefore wasting money, resources and energy.

OR

Is the fashion a good think which fosters huge manufacturing and service industries, generates employment and releases money into the economy?

I probably need a greater understanding of macro-economics to really grasp this one, but wonderd if there was anyone out there who has already though about this and can share their thoughts.

2006-09-21 03:40:50 · 15 answers · asked by Tom W 2 in Social Science Economics

Hmmm, maybe I'm not really sure what my question was. Obviously the jeans analogy makes it clear that for those in the industry (and associated industries) it can be a very profitable business. I suppose I am asking in a round about kind of way - is all spending good for the economy? I seem to remember that someone said 'spending your way out of a recession is like digging yourself out of a whole'. I'm getting a little lost now - sorry.

2006-09-21 04:35:49 · update #1

15 answers

The value of anything is the value we put in it.

You need to think of what else?
If people didn't discard their clothes so quickly, then definitely the fashion industry would suffer, so would manufacturers, farmers...

But if you didn't buy that sweater, what would you have done?
Would you have stashed your money under the mattress?
- Bad that would keep money out of circulation, decrease the amount of it going round, and since the fashion shop owner doesn't get to spend it on, say food, the farmer gets less money... It's called a multiplier effect.

Would you buy a book instead?
- Hard to tell the effect.

On the one hand, since you are buying something, so you are injecting the money back into the economy, so not much difference right?

Wrong, it depends what the book seller and fashion stall owner do with their money. The more they spend again on local products, the more of the positive multiplier will take place: I buy the book, the book store owner uses the money to buy a pound of lamb from the local butcher's, the butcher uses the money to buy two litres of milk, and the farmer uses the money to buy ...

If instead I had bought the sweater, andif the company is say Italian (I am not), then a chunk of the profits go to Italy, only part of it goes to the salesperson who spends it domestically.

To make a long story short...
If you are buying from a foreign fashion stall and would instead buy from a local business who spends locally then since the money circulates domestically rather than goes away, the fashion industry is bad compared to the local business.

2006-09-22 00:39:40 · answer #1 · answered by ekonomix 5 · 0 0

I've thought about this also, but, like yourself I have no vast knowledge all the economics involved.
Unfortunately, like so many other industries in our consumer world, they've managed to convince us that style is purchased with the name we display. There are some truly monstrous creations around, and fools pay top dollar for this stuff, because some z-list'er has been given a bung to wear it while posing for photographs.

I'm always prepared to pay for a good quality well fitting garment, but am flabbergasted by the prices some people pay for absolute trash because it has the right name on it. An example:

In a department store with the wife, I'm milling around and spot a white cotton t-shirt. It was a plain white cotton tee, I'm talking the most basic item of clothing you could imagine, right? This was the most un-remarkable low quality thing I've seen in a long time. I took a closer look at the fabric, it was badly cut, the seams ruffled where they met, it was badly stitched by what looked to be a faulty machine - threads hanging out of the sleeve hems etc. This was not a 'distressed' garment either, just very badly made - shoddy in fact. The fabric was tissue thin also, this was such rubbish, I've seen better quality clothing given away for free as promotional items.
But the magic was in the name. There were four letters printed on the left breast area (not embroidered - printed). Those little letters (about 14pt.) started with D, ended in Y and had KN in the middle.
Since I fancied a laugh, I looked for the price tag. How much was this rag-tag tat with the magic name?
£130.00 (That's about US$250.00)
If that's not funny, I don't know what is!

Sorry about my rant - can you tell, I like the designer 'Mat Alan'?!!!

2006-09-21 04:08:43 · answer #2 · answered by le_coupe 4 · 0 0

I think you are mixing economics with social behaviour.
As a business fashion is very good and important to many professionals. From creative people to shop attendants there is a multitude of jobs.
The fashion world is a important for our media. For some countries is a national (and lucrative) national brand.
But if you want to discuss fashion under other views you may find a lot of (less desirable?) consequences.
Do we really need fashion to live?
Is it ethical to spend a fortune to by a top design dress, or car?
Is it ethical to spend more then you can just for be fashionable and to cut on your essentials?
Well, you can write a book or a lot if you became fashion.

2006-09-24 05:37:59 · answer #3 · answered by alcáçovas 2 · 0 0

Yes, fashion is good for the economy.

Think of it this way. If we all wore same clothes, like school uniforms, millions of people associated with fashion industry would not have their jobs. Fashion industry is not just retail shops, and fashion designers. Fashion industry includes farmers who grow the plants to make the dye for colours; factory workers who actually produce the products; then it links to media industry who advertises these products, models and photographers, web designers who sell these stuff on Internet.

It also effect us. Fashion is lot of time people's personal statement. Power suit at work makes you feel confident and authoratative. A short black dress on a date makes you feel attractive. All these encourages us to spend more money, therefore pouring more cash in the economy, which could be reinvested in business. So it is more flowing cash, rather than money sitting in your house.

If all of us were to save what we earn, and not spend anything, that would be a disaster for the economy, for economy needs the cash to maintain itself.

2006-09-21 11:50:20 · answer #4 · answered by Dolly 2 · 0 0

Actually, it generates alot of jobs, from marketing, advertising,
retail, wholesale, magazine sales, runway shows, television,
schools, manufacturing, import export etc.
I think the top fashion people are crazy and vain myself, but
they also contribute to the medical industry for driving people nuts about their body and appearance. More money generated

There are classic cuts of clothes that can keep you well dressed.
Fashion is very trendy and what is here today is out tomorrow,
It does, in its extreme, foster a "disposable society", but then
look how many people get those old clothes at thrift shops and wear them, . . .more economics.

Also, fashion, keeps things moving, new colors, new textures,
a sense of beginning with each season. It is a beautiful thing
and part of the world of art

On the other hand, it makes people vain, spending money ridiculously on frivoulous items not worth the cost.

It would probably be one of the first industries to go under during a time when people are desparate and trying to survive.

2006-09-21 04:05:47 · answer #5 · answered by ? 2 · 1 0

When you get more "famous" in the fashion industry, and become more known, you naturally get into economy, from all your worldwide clients, and traveling. You can meet new people in big cities, such as New York, while doing work for the fashion industry. Fashion very well fits economy!

2016-03-17 23:35:30 · answer #6 · answered by ? 4 · 0 0

Geez...let's ask Ralph Lauren... Oh wait, he's out on his yacht planning a million dollar fund raising party next month and has single handedly rescued the Little Neck Clam fishermen this week with his catering purchase.

Here's the MICRO economics: one pair of blue jeans bought by an American company from the manufacturing plant at $6.00 per pair. The $6.00 has fed a worker and her family for the week.
The $6.00 jeans are shipped to America where they are marked up to $75.00 and sold to a teen in Newark who thinks they are "a bargain". Even if $15.00 per pair was a needed mark up to cover all the processing and administrative fees the American company needs to cover that still leaves $54.00 profit for every single pair of jeans sold at $75. each.


MACRO economics; Now, multiply that by a very conservative 1,000,000 pairs sold just this fall and you have a $54,000,000 profit for the American company. And that only one product in their new collections of 80 diffferent things they'll sell this fall. Oh, and that was just what they made selling them in American stores. You'll have to add the Internet sales and the stores that carry those jeans all over the world and remember, the hotter the item, the more they sell.

Yeah, fashion affects the economy of the entire planet. Now want to make your head explode? There are two new movies coming out this fall that have "costumes" from the 30's and 40's Hollywood era. Katherine Hepburn style women's trouser's and Suits that look like men's suits but curvier. We're seeing hot young actresses wearing these fabulous satin, cashmere and pitnstripe items on the big screen and every wanna be wants to look like them so guess what you are going to see for sale this fall and winter in stores all over the world? Yeah, you got it. \Many of our fashion trends are a direct reuslt of one single photograph of Scarlett Johannsen wearing a silk blouse and trouser's with red lipstick and a Veronica Lake hair.
We're so easy....

2006-09-21 03:59:30 · answer #7 · answered by Mimi Di 4 · 0 0

good thing, so is art. very high returns for the social effort put in. Soon they might be the major form of employment. The rest of traditional manufacture and office jobs are being eliminated by machine with computers and creativity is the only thing still needing humans.
take a glance at the writings of Jeremy Rifkin for a different take on economics

2006-09-21 03:50:58 · answer #8 · answered by Anonymous · 0 0

Affiliate marketing is the best way of making money online. Website which ask for a initial payment before geeting the job, most of them are fake! You can learn how to make money online with affiliation marketing for free here http://moneyonline.toptips.org
You will find a lot of interesting informations.

2014-09-28 16:04:59 · answer #9 · answered by ? 2 · 0 0

Keep the people busy trying to keep up with fashion and they won't have time to think why they do it.

2006-09-21 03:44:59 · answer #10 · answered by ash 2 · 0 0

fedest.com, questions and answers