Patience and the Modern Economy

We live in a world of instant rewards.  We can talk to anyone we want at the push of a button, we can get products delivered to our house a day after purchase, we can even pick up items from a store without leaving the comfort of our vehicles.  The days of waiting weeks or months for an item to arrive seems to be in the distance past; however, we should not think that way.  As a society we must remember to be patient, a mindset we often look past.  Patience is a virtue and practicing it can sometimes yield wondrous rewards.  

Disposable Economy

It is hard to pinpoint exactly when America, and most of the world, transitioned to a disposable economy.  We no longer get things fixed.  If an appliance breaks more often than not we simply replace it.  There are several factors that have led us to this marketplace position.  The first one is the rise of mass production.  Companies no longer produce items based on what is needed or ordered.  Instead, major companies buy in bulk, often times from out of country manufacturing.  This allows wholesalers to keep the cost per item down and the laws governing wages and other production factors are not the same worldwide.  That is why so many products are made overseas.  They can be produced at a discounted price.  Defects are more common because of this but the quantities ordered and the cost savings by using overseas factories offset the costs of replacing defective units.   Simply put, why should a company employ a repair technician when it is cheaper to replace an item?

Standardization

If you go back many centuries, items were custom made much more often.  Shoes and clothing were made for you by a cobbler or seamstress.  Giant stores full of product didn’t exist and neither did standard sizes.  The industrial revolution and the growth of urban areas changed this.  Stores now had many more customers and it was difficult to keep up with the demand when everything was made to order.  As a result, we started to see company’s stock standard sizes and people no longer needed to have everything custom made.  This process of standard sizes and designs started to infiltrate other areas of the market as well.  Henry Ford is a great example of this.  He started to mass produce cars which took standard parts, they were easy to produce, they used the same fuel, and they became more affordable.   A more modern example is the use of USB devices for computers, the use of Bluetooth for wireless devices, and the existence of standard Wi-Fi frequencies.  As technology and the world moves forward we try to standardize most things to help keep the prices down and to make common items more universal. 

Amazon Prime

One company has stood out in the last few years in its ability to deliver products quickly, efficiently, and for a cheap price.  Amazon has created a nationwide network of warehouses, suppliers, delivery hubs, and employees that has changed how we shop.  People can stay at home and everything they need delivered from food to furniture.  At first we think this is a wonderful thing but when you take a step back and look at what is happening, is it really good for the world?  Currently, during a global pandemic, staying home is a logical choice but we must look at the long term effects.  People are less social and spend less money in their local communities because of Amazon and its web order competitors.  We are seeing retail stores struggle and local business having trouble matching the price and speed at which these major companies can deliver products.  So we must ask ourselves why we should care.

Customization

The answer is much simpler than we often realize.   First, the quality of locally made products is almost always better.  When you buy local most of the time an actual person is inspecting your purchase and ensuring everything is as it should be.  Next, we must consider fit and function.  A clothing item that is mass produced is designed to fit a wide range of people, in contrast a custom tailored suite is designed to fit you perfectly.  You will look better in it and it will almost certainly be more comfortable.  Additionally, nothing looks better or is more functionally useful then a product that is designed for you and your space  A custom made table or other piece of furniture will not only look nicer, it will fit its desired space better, and likely be of much higher quality.  These types of products are more expensive but they have added value.  They withstand the test of time and can often be passed down from parent to child.  That is why jewelry is never a bad investment, it does not devalue over time.  A cheaply made foreign product will definitely devalue compared to something that is locally hand made.

It is likely impossible for us to afford custom made everything, but that doesn’t mean we shouldn’t have some nice things.   It is important to save money sometimes and it important to spend other times.  It is up to us to decide for ourselves where we decided value lays.  Some people prefer custom clothing while others prefer made to order products.  Just remember to think about what you really want and to think about quality before you decided what to buy.

Finally, as we stated above, we must remember to be patient.  Creating a dream room or designing a perfect outfit is not simple.  Customization and quality takes time.  Next time you order something online or at a local business try to be patient and understanding.  Odds are there are reasons we have to wait for a product to be delivered and often the resulting quality from our patience is well worth the wait.