The Rise of the Artisan Economy
Small businesses provide the human element necessary for the market to survive, explains senior research fellow Joel Kotkin.
Developer Shaheen Sadeghi’s vision of an artisanal, small-business-driven economy seems oddly incompatible with his environment. After all, Orange County, Calif., where the 71-year-old Sadeghi has worked for four decades, bristles with mass-produced fabrication. Home to several of the nation’s most successful malls and endless shopping centers, the region has incubated such firms as McDonald’s, Jack in the Box, Cheesecake Factory, Marie Callender’s, Taco Bell, and the epicenter of faux American conformism, Disneyland.
Yet walking around his expanding development, called the Camp, it’s clear Sadeghi has made his vision real. Located on four acres in Costa Mesa — just one mile from the South Coast Plaza — one of the most successful mega-malls in the country — is a collection filled with dozens of independent, small businesses including oddball boutiques, diverse independent restaurants, and even a bar — Cowboy and Poodles — that celebrates southern California’s cowboy heritage, with Western images and artifacts matched with kitschy images of well-groomed dogs.
“Most of retail may be dying,” Sadeghi notes, “the next generation of customers won’t go to the big stores but are seeking out a direct human experience.” Moreover: “The traditional middleman role is obsolete. People may go online to buy necessities but when they go out to shop, they want something real, something that offers the possibility of serendipity.”
Economic Dynamism
The Price of Stagnation: Britain’s Retreat from Dynamism
We face a basic issue: we do not let cities or communities grow or die.
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London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
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The New Frontier of Capital: What SpaceX’s IPO Tells Us About American Capital Markets
The ultimate trajectory of SpaceX remains uncertain, a reflection of the inherent nature of progress at the frontier rather than a flaw in the system that produced it.
Chicago’s “Disappearing Middle Class” Can Be Found in Its Proliferating Upper Middle-Class Neighborhoods
The middle class has not been hollowed out; rather, the overall decline stems from the net movement of families upward into the upper-middle class.
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Is Economics a Failure?
Rather than ending with “economics is broken,” Alexander Rosenberg’s deliberately provocative book 'Blunt Instrument' argues that “economics is useful for a different reason than economists often say.” That is a serious and worthwhile thesis.
Locke, Meet Claude
The concern is not regulation per se. It is a regulation that outruns its justification by arriving before the evidence, foreclosing the technology before its benefits are understood, and insulating the powerful from competition that would otherwise discipline them. That is the pattern worth resisting.
