The Post-Economic Institute's approach is to raise awareness around areas where economics is currently assumed to be natural and inevitable and challenge them.
It believes that, due to digital technology:
It is no longer accurate to define individuals as consumers
Generic common standards, such as money, cannot measure value meaningfully
It is personalisation, not economics, that should regulate individuals’ access to things
The values of our economic system – choice, competition, opportunity, privacy – are obsolete
The measurement of business success should be efficiency, not profit
Employment can technically refer to anything we do
Metrics should be specific to each individual, not each business
For a system to make sense in the digital age, the determination of value must be redefined away from economics to fit an infrastructure characterised by connectivity, AI and continual data tracking. Doing so would enable the realisation of the great potential of our time – the establishment of a system based around the recognition and treatment of individuals as individuals in everything they do.
Identifying the real issues that need to be addressed to make retail appropriate for the 21st century, so that principles for evolving it can be established.