Design Economy and Value

 


In preparation for the seminar presentation we are going to have this week, I looked back at the design economy and design value. Design economy looks at design and its value to the economy. I came up with the graph above to illustrate my idea of design and how it will create this circular economy. It started with skills from the traditional craftsmen that will drive innovations, a cultural product as a result of my design, that will accelerate growth, the growth could be economic growth or even awareness growth of the Peranakan culture that will be beneficial for the market. It could create a cultural buzz that could drive tourism and opens up more job opportunities that in the end will again, benefit the skilled workers.




Looking at Ken Friedman's table of Six Global Economies and 6 Domains, my project will fall under economy 5, and in domains of theory and inquiry will fall under "humanities and liberal arts" and in domains of practice and application will fall under "creative and applied arts".
 

As for the design value, I created this graph that went back to the very first definition of design, which envisions change and creates values. These values were then divided into my three main stakeholders which are the craftsmen, the society, and the nation/government. Through my design I'm looking to give personal value, community value, and national value. Community plays a very important role when preserving a culture. Cultural heritage can only be heritage if it is recognized as such by the community that creates and maintains it. Culture provides an opportunity for people to come together with others, enhances our quality of life, and increases overall well-being for both individuals and communities.
 

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