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Having more time on our hands can reduce consumption, for example, we can make our food instead of going to the restaurant or take away. We may have more time f
by lcam84 6y ago
Having more time on our hands can reduce consumption, for example, we can make our food instead of going to the restaurant or take away. We may have more time for the family and thus spend less on nursing homes or kindergartens.
This is just my opinion but it can also reduce conspicuous consumption. Remote work makes it less necessary to be in the centre of a city or surroundings. This reduces the consumption used to define social status. For example at the moment the fashion business is in a strong decline.
We are already seeing an increase in savings partly due to remote work. https://edition.cnn.com/2020/05/12/investing/jobs-coronavirus-consumer-spending-debt/index.html https://edition.cnn.com/2020/05/12/investing/jobs-coronaviru...
- ubercow13 6y agoMaybe businesses will have more incentive to produce actually 'fun' stuff for people to spend their money on, rather than more and more unnecessary status items.
- Jommi 6y agoI think you underestimate the human desire to consume. Making food at home suddenly makes you want to invest in higher quality ingredients, better tools. Maybe even a bigger kitchen! How did you come up with remote work increasing savings? It's more of a fact that in economical uncertainty savings will go up.