March 2009

Where The Economy Meets Cultural Trends

I have noticed two trends lately: the first is articles and news stories that trot out "In these troubled economic times..." (or a variant) as the lede. The second is people who had lots of money before the downturn, and continue to have a lot of money now, but who have grown sheepish about extravagant displays of wealth. The first time I noticed this, it was in a blog post by start-up CEO Penelope Trunk, under the sub-heading "Being cost-conscious is cool."
"This trend is very freeing to me because my favorite dress for this winter is from Target. It is velvet but not really velvet - sort of crap, cheap velvet. And when I bought it, in September, I worried that it was over-the-top-cheap.