10 ways the new economy will look different - by Peter Grier
This is a given: the BC economy (the one we had Before the Crash) had too much of many important things. Too much debt. Too much consumption. Too much speculation in complicated financial instruments by bankers blind to the bubble inflating around them. That's not coming back. Housing prices are not going to rebound 20 percent soon. The Dow is not getting back to 14,000 this decade, and maybe not the next. Circuit City, Linens 'n Things, Lehman Brothers – they're all extinct, like Studebaker. "We are never going back to the way we were," says Paco Underhill, chief executive officer of the retail consulting firm Envirosell. You don't have to be a futurist to foresee that in the coming new economy just about everyone in the private sector, from consumers to financiers, will be looking to get the most they can for their dollars. You can sum the situation up in two words: "value rules."
"The era of 'bling' is coming to a close."
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