September 20, 2019

The Minimal Economy

Person Taking Picture of Beige Building Using Black Smartphone by Vlad Bagacian.


The term “minimalism” is not new to people nowadays, which means living productive (having a decent life) using less stuff (things). In present time, the minimalist trend has crawled in our economy (developing and develop countries). In the past, you need books, papers and pens to study, now you only need a mobile phone or a tablet to do all the studying stuff. In the past, we use television, telephone, pager, newspaper & magazine, calendar, alarm clock, game console, stereo, MP3 player, CD/DVD player, FM radio, camera and video recorder separately; now, all of these stuffs are packed in your smart phone. You don’t need to buy a car to have a car, nowadays; you can use your phone to book a car ride. You don’t need kitchen equipment to eat a decent food; with just one press in your phone, someone is ready to cook and deliver a food for you. We are now in an era of “dematerialization” with the help of advance technology. And, who needs a wrist watch nowadays - it’s also in your phone.

From big vacuum tube TV, we are now using infinity display smart phone, which are using high definition screen technology and using less energy. As technology advanced, efficiency will increase, from producing a 20 km/h metal bicycle, new technology is enabling us to create a 50 km/h bicycle that is made from carbon. The bicycle materials are getting light, aerodynamic, durable, and less costly with the help of new technology and engineering. The future of cars will soon go to this direction, carbon frame engineering, powered by electricity and smart technology.


As cities progressed, walk-ability will be one of the standards of a modern city, soon, people will use less cars and more people will walk as the proximity of their homes get close to their work and walking paths get comfortable and safe. Houses can now be prefabricated using light materials; development in this segment will enable high quality low cost housing. Vertical farming is also revolutionary; space will no longer be a problem for agriculture development. Lighting systems is getting more efficient, the use of “led light” provides better lighting using less energy. Renewable energy development will also pave the way to abundant energy supply which will result to low cost clean energy. Even the use of paper bills and coins are getting less, we can now use our phone to pay bills and buy things. 

Tech evolution is people empowering, getting more productivity using less resources; and less stuff means less waste.


No comments:

Post a Comment

Subscribe to Philippine Economist via Email