When Schezzer first studied economics in the late 1970’s the academic view was one of policymakers trying to control "the economic system" in which "firms" and "government" were seen as the key components. The policymakers saw their role as to control the actions of the economy and decided what constituted “fair production”.
In the 1980’s Schezzer realised this view was lopsided and that in fact a more correct view of the world was that Government and Firms were both the agents of consumers and that, far from the Prime Minister being the CEO of "UK plc" he or she was (or should be considered to be) the head of "Government plc" – a special type of "firm" that consumer’s use to control other firms and obtain the goods they need that the market might otherwise either neglect to provide at all or provide "inefficiently" from a consumer perspective.
This view of the world happened to fit well with the new age of "customer centric marketing" which then dawned in the 1990’s and has become the model for marketing activity in the 21st Century. But the political landscape (in the UK anyway) does not reflect this thinking despite the rise of "evidence based policy-making" which has driven so much public money into the hands of "market researchers" (ie those gathering numbers to support political ends).
Schezzer will be looking at macro-economic theory through this new found lens of "customer centricity" and invites anyone with any views on it to send us their thoughts. We had hoped to look at this during the 1990’s but other things got in the way. But now is actually an even better time as customer centricity is now endemic in the business world and hence no longer "quirky".
If you like this new view of the world, let us know.