The Displacement of the Economy

Alexander Tsigkas ()
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Alexander Tsigkas: Democritus University of Thrace

Chapter 2 in The Modern Lean Enterprise, 2022, pp 13-21 from Springer

Abstract: Abstract The economic system governing mass production and mass consumption has reached its sunset. The era of meta-capitalism, characterised by the economy of customisation instead of a mass economy, has appeared as its successor. Wealth creation in meta-capitalism is due to value created by the interaction of individuals with other members of society. In a meta-capitalist society, people undertake responsibility for their autonomation. Economics in meta-capitalism is not compatible with those driving mass production, and so a new one should be developed, reflecting the new reality. In the new era, growth is displaced to a new topos, where the cost of production is not the differentiating factor, and profit must be redefined. This is the way to sustainable growth in a displaced economy.

Keywords: Supply chain; Open innovation; Mass customization; Wealth creation; Lean production; Meta-capitalism (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-662-64476-8_2

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