The Rise of the Frugal Economy

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In the United States and across Europe, vertically integrated value chains controlled by large companies are already being challenged by new consumer-orchestrated value ecosystems, which allow consumers to design, build, market, distribute, and trade goods and services among themselves, eliminating the need for intermediaries. This bottom-up approach to value creation is enabled by the horizontal (or peer-to-peer) networks and do-it-yourself (DIY) platforms that form the foundation of the “frugal” economy.

The Rise of the Frugal Economy by Navi Radjou and Jaideep Prabhu – Project Syndicate.

Posted in Pop culture.

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