The Economics of Everyday Things Cashmere (Replay)
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Dec 23, 2024 Explore the intriguing transformation of cashmere from a luxury item to an everyday staple, driving a goat boom in Mongolia. Discover how this shift impacts local herders, balancing tradition with inflation pressures. Dive into the economic complexities and environmental challenges facing the cashmere industry, including over-reliance on middlemen and the consequences of climate change. Learn about the sustainable efforts of communities committed to preserving their heritage while navigating the modern market demands.
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Gobi Desert Goats
- The Gobi Desert region in southern Mongolia is characterized by vast, arid land.
- Goats outnumber people eight to one, highlighting their significance to the economy.
Cashmere Accessibility
- Mongolian goats are crucial for the apparel industry, producing a substantial share of the world's cashmere.
- Cashmere, once a luxury item, has become widely accessible, with companies like Quince and Everlane selling affordable sweaters.
Cashmere Origins and Luxury
- Cashmere is the soft, fluffy undercoat grown by goats in Central Asia, prized for its luxurious feel.
- Its association with luxury began in the 1960s, linked to "old money" and Ivy League styles, later becoming democratized in the 2000s.