The Vibecession: The Self-Fulfilling Prophecy

A second crisis was economic, or to be more precise financial, triggered by years of irresponsible mortgage lending, high-risk investments, and inadequate regulation of banks and other financial institutions in the United States and Europe. These practices came home to roost in 2007 and 2008, and it was not long before the crisis grew dramatically

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The vibes are off, but they’re off fundamentally because they focus only on feelings and emotional connections that have already existed. They don’t provide or imagine pathways to new futures; they allow only for an understanding of what feels good or bad based on experiences that have already happened, things that have already been seen.

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Her concept has more depth than those theories. I would characterize economic vibes as collective feelings in the digital age. Almost all previous versions of economic theory around consumer sentiment have been formed in a pre-internet world. Until now, no one had updated those frameworks for the age of algorithms. When I emailed Scanlon about how ... See more