Tomorrow will not be like yesterday. This is no mere recession: it’s a tectonic global shift in savings, consumption, and investment. Today’s macropocalypse is a rupture in the global economic fabric – and the next half-decade will be spent reweaving it. It is not a temporary departure from business as usual, an illness – it is a structural transformation, a lasting change.
20th century business isn’t fit for 21st century economics. Yesterday’s businesses were built for a world of overconsumption, artificially cheap production, symmetrical competition, and macroeconomic stability. That was yesterday. Today, the herd of industrial-era dinosaurs is going to be mercilessly culled – unless they can evolve to fit a radically altered economic environment.
Umair Haque, the director of the Havas Media Lab