The Latest Model & Different Choices Market Economies
In any economy, as it develops into a developed economy, a Latest Product or Service Model Economy – LMEs = takes over, as is evident by historical fact. In my opinion, supplying for LMEs (except for agricultural & food goods) is not good manufacturing practice or natural consumption……it results in induced/manipulated consumption. For example, how many different models or varieties can one have of Cars? Already, there are too many models & types of Cars and today you have full TV programs dedicated to helping you make the ‘right” choice amongst so many brands & models of Cars , that too, when you finally decide to buy yourself a, or more Cars. I agree this is necessary for improving a product or service, but these features that one discovers along the experience of manufacture or service, can be consolidated in real time milestones (that can be pre determined amongst various product or service criteria) instead of via a new model for every “annual automobile show”.
Now to illustrate the point I am trying to make:- Transport of us humans from Place A to Place B = Requirement/need/Discovery Vehicles for transportation needs of economic individuals/entities: Included in the basket of pre identified product/service. To be manufactured for supply.
The Ford Model T car = The Product and its “Transport” Service The Assembly Line Factories for The Model T= production engineering In due course so many producers of cars and so many models every year Millions of manufactured cars later: Motor Vehicular emissions acknowledged as a Negative Changes in engine technology empowering car manufacturers to produce new “Clean Cars”
Results: The markets never achieved saturation and till date cars are being made and sold that are still emitting pollutants. Lots of polluting relative to clean cars lying in stock unsold all over the world. Today’s Need: More or Only “Clean Cars”.
As an industry, if you look at the changeover, only the fossil fueled combustion engine manufacturers & their vendors would have to close shop, or realign into making “Clean Engines/Motors & parts”. So will Fossil Hydrocarbon Liquid Fuel manufacturers be displaced? However, there are alternative “good” uses for these hydrocarbon fuels, especially for crude fossil oils (crude petroleum oil). As these vested interests that have made huge investments and capacities to build Fossil Hydrocarbon Liquid Fuels & their guzzling engines, they have to be addressed; proper care must be taken so that these vested interests are motivated to change over. For example, the engine makers could be funded to convert into making electric motors for electric powered cars and their existing guzzling engine could be provided as a backup engine, for starting a Clean Car. While Fossil Hydrocarbon Liquid Fuel makers could change over their entire capacities to make crude petroleum based PVC/Plastic/Polymer Pipelines, which could be developed into Global & Country Specific Water & other Liquids Delivery and Management systems, for precise human, agricultural, industrial & treatment usage.
Another very important issue that requires an answer……… This, to understand the demand and production sides of any market for any product or service past, present or future, with the objective of Full or Total Supply- Especially, for The Essential Needs, Products & Services(ENPS).…….the main issue is, when needs are adequately fulfilled, when & how does a desire, want or luxury invade a person so much, that he or she does whatever it takes to fulfill that desire, want or luxury by earning monies & other means and ends… through good economic activity like a job or business.
Furthermore, suppose you consume 2 apples a day and you pay for them, and also you have adequate money to pay for apples.
Now suppose you get apples for free. How many will you consume?? Two, more than 2, or less than 2. !!?? The reason this is important, is because from the market economist’s point of view: When does a desire or want get that badly desired or wanted, that a consumer is willing to work long & hard hours so as to earn enough to be able to satiate this particular desire/want….one will find out how motivated and productive an employee or businessperson would be if he/she works for monies, means & ends to spend on wants, desires & luxuries.
Furthermore, when we talk of free market economics vis-a-vis market economics, how many types, or brands of Apples should be made available for a consumer to choose from (an instance of free market economics) compared to say 10 different types/brands only: A Ten market economy, for example. As numbers can be arbitrarily chosen, the number of choices per product or service could decide the type of market economy that one is living in. In this case of apples, as there are 10 different brand/types of apples available, we would be living in a Ten Market Economy (TME). So here in the TME there will be 10 choices for every ENPS, desire, want or luxury. To continue in the manner of actually free market economies, one would be free to move, up or down, from a TME to an Eleven Market Economy (EME), or to a Six Market Economy (SME).
This means that in an EME one is given a choice of 11 brands/types of apples to choose to consume by an economic consumer, and in a SME, the choices for personal consumption are limited to only 6 brands/types of apples. And of course, a TME would be allowed to upgrade itself to an EME, or downgrade itself to a SME.
Of course, the normal pitfall of choices may make us fall into preferring a higher number of choices, where quality could be suspect between the product & service choices available in the economic products & services portfolio, as compared to not much choice being available, but the shortfall in numbers of choices, being made up for by very high quality in the fewer choices that are available.
To be able to mention specific criteria so as to determine which number an economy should be, or become, is difficult to detail, but is open for debate & research. But in general, the population of economic units, or consumers of apples that an economy is constituted of, will be the main determining factor; with the lower populated economy being able to choose best in terms of number (wastage should be curtailed) and quality. Economies which are mature and have experienced a lot of consumption will eventually upgrade first to latest models as well as latest products, goods and services. Of course economies that have citizen inventors & innovators would be the first market for their products, goods & services. One other major reason of increase of desire for more types/brands is boredom, or dissatisfaction faced with existing availabilities.
However, economies do not make products or services; commercial entities do. Does this mean that eventually economies will be named as per the names of commercial entities that produce in the particular economy, or as the custom is: Apples would be branded: Made/Grown in India, for example. However, economies provide resources etc to produce, so it would be apt if apples grown in India be branded as Made/Grown in India only. One could be more microscopic by even naming the orchard where the apples are grown which is the case in some up market shops and wholesale/aggregator markets.
