About The Fashion Industry
Numerous industries now have economic prospects thanks to the expanding global population.
The fashion business has benefited from the world's population's rapid rise and has attracted a number of players, raising the level of competitiveness. A new dynamic in the fashion business has emerged as a result of the increased degree of competitiveness. Because of how quickly new trends hit the market, this industry is now regarded as a "fast fashion" industry. Although it might be seen as a sign of economic expansion, this is the main reason for social inequities. Social injustice is the term used to describe unfair behaviors that take place in society. It is indisputable the growing fashion industry is creating job opportunities for millions of persons across the globe. However, the supply chain of the fashion industry is unfair for the people at the bottom of the chain and favors person at the top level.
Production of apparel is outsourced to countries with a low economy
For instance, Indonesia as a strategy to be competitive as far as pricing is concerned. The workers at these textile companies operate in hazardous working condition and are paid peanuts despite them performing the tedious job. The Fashion industry should re-evaluate itself as far as business ethics is concerned. There is no point of great sales being recorded by the firms and yet those responsible for the products are languishing in poverty of the highest order. The worst case is that big fashion stores or brand are providing the lowest offer to these nations forcing the sub-contracted firms with no option but to decrease the cost of labor. The fashion industry is portraying sadism an acceptable value across the globe. Shifting production from Western nations to low economy nations should be beneficial to the low economy states. However, this is not the case because these fashion firms have shifted problems to less developed nations. Instead of improving the situation, these firms continue to design business contracts that are detrimental. On the other hand, those at the top level of the chain reap high returns at the expense of the poor workers.
A capitalistic economy encourages an individual to accumulate wealth.
This philosophy championed by a capitalistic economy aims at exploiting others for one to accumulate wealth (Roth, 2015). Investors in the fashion industry seek to reap more from the industry than others and, therefore, use techniques that will favor them. The purchase rate of clothes as always increased because people no longer purchase clothes to cover nakedness but to keep up with trends. However, for the capitalists, such purchases continue to increase their wealth. Natural production of cotton for manufacturing clothes cannot meet the growing demand. This has led to the adoption of bioengineered agriculture, where chemicals and GMO are used to increase the production of cotton. The greedy nature of capitalists in the fashion industry has impacted negatively on the environment through the use of chemicals. Families in Punjab, India face chronic diseases such as cancer due to the chemical exposure ("The True Cost", 2015). Capitalism has changed the concept of business, which is supposed to be enhancing the quality of life for people but now the fashion industry is doing the opposite. However, this does not mean that all players in the fashion industry are inhumane. Some of the investors champion for fair trade within the fashion industry. The goal is to ensure each player in the chain is rewarded fairly for their effort rather than a tilting supply chain favoring a few.
References
Roth, A. E. (2015). Who gets what--and why: The new economics of matchmaking and market design.
The True Cost (2015) - Full Documentary [Fashion & Clothing Industry] (w/multiple subtitles). (n.d.). Retrieved from https://www.youtube.com/watch?v=zB-YRhcH5tg
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