In her local economy talk, Kerrin Smith discusses an alternative paradigm of economic growth. The CATiD founder explores the concept of applying a local economy to the fashion industry, one which is based on a stronger sense of community and neighborliness.
The speaker notes a single bottom line is no longer the most effective metric, and basing an economic model on solely profit is insufficient. Instead, business should be measured according to people, planet and sourced wisdom as well.
The local economy talk mentions the normative concerns about systems of fashion production, results of these systems and the values driving business in the fashion industry. By examining social values, having a conscious full-spectrum response and acknowledging all involved in the production of a garment, a local economic model can be brought to the fashion world. When one considers empathy and inter-personal relationships, business can be more meaningful.