Project for Philosophical Evaluations of the Economy |
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The size of sunglasses and the state of the economy
Dialog between Noah denkt™ and its Alter Ego on the US Consumer, first drafted on April 16,
published on June 2, 2009
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Question by Alter Ego of Noah denkt™ (AE): Perhaps it is a good idea to review, once again, your earlier
assertion according to which you do not believe that the current economic recession will establish a paradigm
shift in terms of consumer behavior.
Answer of Noah denkt™ (Nd): Good idea!
AE: So do you still stand by the notion that the US consumer will return to his old debt incurring buying habits
once the economy gets back on track?
Nd: Yes, we do.
AE: Do you see any evidence that would support your theory?
Nd: In deed.
AE: And what is it?
Nd: It is the sheer size that fashionable sunglasses still have to this day.
AE: What are you talking about?
Nd: We are referring to the fact that these super-sized sunglasses that were in fashion two three years ago have
not gotten any smaller so far. And we believe that this confirms that there has been no fundamental value change
in consumer behavior as of yet.
AE: How could the size of sunglasses have anything to do with consumer spending patterns?
Nd: Well, we believe that the size of these frames reflects a way of life and way of thinking.
AE: What thinking could that possibly be?
Nd: Obviously, it has something to do with demonstrating superior loftiness and coolness. And certainly it wants to
project an image of success, glamour and stardom. After all, it is no coincidence that these glasses were made
popular by the glitzier stars in Hollywood.
AE: And you believe that anyone who buys these frames wants to emulate that star appeal which the respective
sunglasses supposedly have?
Nd: Consciously or sub-consciously yes, - absolutely!
AE: And it could not be that people buy these bigger glasses largely because they offer a better protection
against the sun?
Nd: Surely there is that aspect too, but the studs that these frames sometimes have, have us think that this
cannot be the entire reasoning behind it.
AE: Could it not be that these super-sized glasses which you still see on the street right now were bought two or
three years ago when people were still feeling somewhat exuberant. And does it not follow from this that these
frames do not necessarily reflect their current state of mind?
Nd: Granted, we do not have any recent sales figures on this. Nor do we know what the present fashion trend
actually is. All we can say is that it seems to us, as if people are still wearing these huge goggles with pride. So we
take it from their body language that nothing much has really changed in terms of in consumer values.
AE: And you do not consider this a superficial way of reasoning, since you are discarding all relevant retail
statistics and opt for some anecdotal evidence instead.
Nd: No, we don’t think that our approach is superficial. After all, it is our trust in personal, anecdotal evidence that
differentiates us from your average economist. And it is also this approach which has resulted in the fact that, so
far, we have been better able to get the big calls right than these economists have.
AE: Let’s hope then that it will stay like this.
Nd: In deed let’s hope that our intuition will serve as right in future too.
AE: On that note we conclude with the observation that as long as the sunglasses do not get smaller the
recession won’t have had a lasting effect on consumer spending patterns.
Nd: Correct!
Dialog between Noah denkt™ and its Alter Ego on the US Consumer, first drafted on April 16,
published on June 2, 2009
______________________________________________________________________________________
Question by Alter Ego of Noah denkt™ (AE): Perhaps it is a good idea to review, once again, your earlier
assertion according to which you do not believe that the current economic recession will establish a paradigm
shift in terms of consumer behavior.
Answer of Noah denkt™ (Nd): Good idea!
AE: So do you still stand by the notion that the US consumer will return to his old debt incurring buying habits
once the economy gets back on track?
Nd: Yes, we do.
AE: Do you see any evidence that would support your theory?
Nd: In deed.
AE: And what is it?
Nd: It is the sheer size that fashionable sunglasses still have to this day.
AE: What are you talking about?
Nd: We are referring to the fact that these super-sized sunglasses that were in fashion two three years ago have
not gotten any smaller so far. And we believe that this confirms that there has been no fundamental value change
in consumer behavior as of yet.
AE: How could the size of sunglasses have anything to do with consumer spending patterns?
Nd: Well, we believe that the size of these frames reflects a way of life and way of thinking.
AE: What thinking could that possibly be?
Nd: Obviously, it has something to do with demonstrating superior loftiness and coolness. And certainly it wants to
project an image of success, glamour and stardom. After all, it is no coincidence that these glasses were made
popular by the glitzier stars in Hollywood.
AE: And you believe that anyone who buys these frames wants to emulate that star appeal which the respective
sunglasses supposedly have?
Nd: Consciously or sub-consciously yes, - absolutely!
AE: And it could not be that people buy these bigger glasses largely because they offer a better protection
against the sun?
Nd: Surely there is that aspect too, but the studs that these frames sometimes have, have us think that this
cannot be the entire reasoning behind it.
AE: Could it not be that these super-sized glasses which you still see on the street right now were bought two or
three years ago when people were still feeling somewhat exuberant. And does it not follow from this that these
frames do not necessarily reflect their current state of mind?
Nd: Granted, we do not have any recent sales figures on this. Nor do we know what the present fashion trend
actually is. All we can say is that it seems to us, as if people are still wearing these huge goggles with pride. So we
take it from their body language that nothing much has really changed in terms of in consumer values.
AE: And you do not consider this a superficial way of reasoning, since you are discarding all relevant retail
statistics and opt for some anecdotal evidence instead.
Nd: No, we don’t think that our approach is superficial. After all, it is our trust in personal, anecdotal evidence that
differentiates us from your average economist. And it is also this approach which has resulted in the fact that, so
far, we have been better able to get the big calls right than these economists have.
AE: Let’s hope then that it will stay like this.
Nd: In deed let’s hope that our intuition will serve as right in future too.
AE: On that note we conclude with the observation that as long as the sunglasses do not get smaller the
recession won’t have had a lasting effect on consumer spending patterns.
Nd: Correct!
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