The ancient Roman poet Juvenal remarked that the masses only
care about two things, “bread and circuses”.
So most Western governments are not worried by the prospect
of the recession causing revolution, so long as the masses still have the
modern equivalents of bread and circuses – fast food and digital entertainment.
This means that there are lucrative opportunities even in
the downturn for those businesses which provide them.
So, although high-quality retailers are under pressure, the
market for cheap food is actually improving. This explains the record profits
of Britain’s ubiquitous
Tesco, among others.
However, given the power of mass production in the modern
food sector, the best opportunities for entrepreneurs are on the “circus” side
rather than in “bread”.
With less money to spend on going out, many people are
looking to more imaginative
uses of existing digital technology to keep them amused.
That market is bound to increase as rising unemployment
gives them more time on their hands.