Difference between revisions of "Empowerment of city centers"

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(Created page with '== Overview == == 2010 - 2015 == The 2008 financial crisis was a major turning point in the history of mankind, opening a new era of doing business. The great recession caused …')
 
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== 2010 - 2015 ==
== 2010 - 2015 ==
The 2008 financial crisis was a major turning point in the history of mankind, opening a new era of doing business. The great recession caused high levels of unemployment in western countries, economic slowdown in emerging markets and saw government support consolidation in the finance industry. This credit crisis revealed cracks in an economic system that was the gold standard for decades. The system, fuelled by greed and speculation, created an artificial and ephemeral value for companies and people. Since, people showed lack of confidence in the financial system and professionals started to reconsider financial measurements in their performance and control systems.
Austerity measures implemented by governments helped balance budgets and restored consumer confidence. However pushed by constituent anger, the governments enacted legislation to overhaul the financial industry. Stricter regulations against excessive speculation and financial market abuse as well as more independent controls were implemented. Companies were forced to find innovative ways to create value out of the pure financial bubble. Thus started the beginning of an economic transformation.
Markets were geared toward sustainable growth and industry was focused on producing and recycling quality products. Gone are the days of profit seeking by mass production and economies of scale and in are the days of business strategies devoted to quality and sustainability.
Between 2010 and 2012, three major oil spills happened in the Golf of Mexico, in the Persian Gulf and in the North Sea, releasing about 20 million barrels of crude oil in the water.  By mid -2012, the oil price rose to $250/barrel.
A new consumer emerged, an eco-friendly consumer.  People started to reduce their energy bills by changing using recycled products and economical solutions for lighting and travelling. Demand for substitutes to oil increased (LPG, ethanol, buthanol, electricity...) Businesses modified their processes and their products to limit waste, reduce raw materials in production and to cut energy consumption. Offices spaces were reduced and concentrated in city centres.
From 2013, increasing flows of population migration to cities were observed as well as higher concentrations of companies in the city centre. People reduced the use of personal car to commute more economically.  Real estate price rose in big cities, but remained affordable for households as standards of living and consuming changed.


== 2015 -2020 ==
== 2015 -2020 ==

Revision as of 10:11, 28 August 2010

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