I've been reading about how some theorists suggest that business has moved from a service economy to an experience economy, that is that people buy experiences, the more transformative the more they are willing to sacrifice greater and greater amounts of their disposable income to it and the more successful businesses will be those which can provide the more transformative experiences.
In part this comes from futurologists who complained about economists in the sixties and seventies being unable to imagine economies other than communism and capitalism, who suggested that consumerism could evolve in ways which superseded both or at least promised more than either of the traditional economic paradigms.
The theory emphasises the importance of fantasy, dreams and expectations in shaping experience and driving consumer choice.
Have you heard of this idea before? How relevent do you think it is? Is it any good as a theory or does it not contrast aswell with other theories that you are familiar with or your own experience? Is asking that question itself evidence of the experience economy being the prevail paradigm.