The Flat White Economy: How the Digital Economy is Transforming London and Other Cities of the Future

by Douglas McWilliams

Since the financial collapse of 2000, the 'flat white economy'-named after the coffee popular with young workers of media, internet and creative businesses-has spawned four times more jobs than the City lost in the crisis. London is now growing one and a half times faster than Hong Kong as a result, with immigration a driving force behind this triumph of lifestyle and economics. Leading economist Douglas McWilliams describes how this meteoric success, centred on East London where a growing 'hipster' community has swapped the City's champagne and supercars lifestyle for bicycles, boho flats and beards, has become the prototype for digital cities around the world. The Flat White Economy is the key book you need to read on London's economy today, written by an expert in his field. Easily accessible and well written, it will appeal to fans of Stephen J. Dubner's and Steven Levitt's Freakonomics and Chris Anderson's The Long Tail.

Genres: Nonfiction, Economics, Business

224 pages, Paperback

First published March 12, 2015

Reviews

[โตมร ศุขปรีชา · Rating 3 out of 5]

อ่านรวดเดียวจบบนเครื่องบินจากภูเก็ตมากรุงเทพฯ ใช้เวลาแค่ชั่วโมงกว่าๆ ไม่ได้แปลว่าสนุกหรอกนะครับ แต่เพราะแทบทั้งหมดเป็นเรื่องที่รู้แล้ว และแอบอ่านข้ามๆพวกตัวเลขไปบ้าง พบว่าไม่มีอะไรน่าแปลกใจนัก หนังสือไม่ได้มีเนื้อหาหรือแนวคิดอะไรมากไปกว่า Excerpt ส่วนใหญ่คือการขยายความในเชิงเศรษฐศาสตร์ ที่สำคัญก็คือ ไม่ยักตอบคำถามว่าทำไมต้องใช้คำว่า Flat White ให้กระจ่าง คือเข้าใจว่า Flat White เป็นกาแฟแบบหนึ่งที่ฮิปสเตอร์ในอีสต์ลอนดอนชอบดื่ม (จริงๆในหนังสือบอกว่าเป็น White Coffee คือกาแฟใส่นมทั้งหลายแหล่ ซึ่งถ้าเป็นอย่างนั้นก็อาจเรียกว่า Cappuchino Economy หรือ Latte Economy ก็ได้) หนังสือไม่ได้บอกว่าแล้วทำไมต้อง Flat White ก็เลยไม่สนุกตรงนี้ แต่นอกนั้นแล้วน่าสนใจดีโดยเฉพาะบทที่พูดถึงไลฟ์สไตล์ของคนเหล่านี้ แต่ใครเป็นนักเศรษฐศาสตร์อ่านอาจจะได้อะไรมากกว่าก็ได้นะครับ โดยเฉพาะในบทท้ายๆที่พูดถึงการที่ Flat White Economy จะขยายตัวไปสู่สังคมอื่นๆได้อย่างไร คิดว่าในสังคมไทยมีปัจจัยที่เอื้อให้เกิด Flat White Economy อยู่ไม่น้อย โดยเฉพาะความอยากเก๋ แต่ไม่น่าจะเกิดเป็นชุมชนเล็กๆเหมือน Silicon Roundabout ในลอนดอน เพราะปัจจัยอื่นๆไม่เอื้อแบบนั้น สรุปก็คือสนุกดี และได้เห็นมุมในการมองฮิปสเตอร์เชิงเศรษฐศาสตร์และสังคมอีกแบบหนึ่ง (ที่ดีใจกว่านั้นก็คือ นี่เป็นหนังสือภาษาอังกฤษเล่มแรกในรอบหลายเดือนที่อ่านจบ นอกนั้นอ่านทิ้งๆขว้างๆ 555)

[Mikkel Sørensen · Rating 2 out of 5]

I have long been wondering what the actual impact of all these hipsters, the backbone of the flat white economy, roaming the streets is. I am interested from a micro economic perspective, focusing on how the person's and companies actually generate value for themselves and society.

All I got out of this book is that the flat white economy is full of young party goers, sharing flats, biking a lot and eating Street food. I knew this, as its quite obvious.

The book really feels like it was written from behind a desk by an economic advisor with no real feel for, nor understanding of, the people or the technology in question.

Rather, this is a macro economic view of the flat white economy. read it if you're into city development or want to advise a city administration on how to be more hip.

Lastly I found the writers use of long quotations of eg UKIPs party programme and reports from his own company, Cebr, strange and excessive. Too much quoting and facts, not enough reflection.

[Mish Middelmann · Rating 3 out of 5]

A very interesting take on the current impact and future potential of the hip, fast, modern economy of app development, online marketing and sales, and related services. Detailed data showing just how much London and the UK have benefited from the right talents and opportunities including
* creativity and diversity coming with immigration
* relatively cheap accommodation in the east of London plus lots of cool pubs and events for an integrated lifestyle
* a relatively developed online marketplace in the UK

Exciting to think of Joburg's own Tshimologong Precinct growing to the same level. I've seen some good startup signs.

On the other hand, this book felt like it needed a serious edit to cut out both repetition and an excess of self-aggrandisement by the author.

[Jonah · Rating 4 out of 5]

McWilliams is a bit unfortunate through being embroiled in personal scandal at the time of this book's release, but that shouldn't be allowed to overshadow his work here. An insightful analysis of London's transformation into a digital city, driven by the rapid growth in East London over the last few years, particularly around the Shoreditch area, now branded by London's local government as Tech City UK. McWilliams calls this "The Flat White Economy" typified by smart, urban hipsters (often immigrants from Southern Europe and further afield) working in the creative and digital marketing sectors. The first part of the book is the most relevant to the layperson interested in innovation and economic development, with some great analysis of the key factors driving London's success. The second part of the book delving into the economic data and statistics to support McWilliams arguments.

[Akrylic · Rating 3 out of 5]

The Flat White Economy outlines the digital industry in London and how it is transforming the economy. I quite enjoyed the book as it taught me a lot about a topic that I was interested in and helped paint a broad picture of London and the digital world more generally. There are lots of eye-opening facts.

On the other hand, as some people have pointed out, the book can be a bit repetitive (often, the same point is repeated in consecutive sentences). The book seems poorly edited, based on the aforementioned observation and the fact that there are many grammatical errors. Some may not like the writing style: it is written more like a business report, with lots of statistics thrown in, rather than a story, which perhaps makes reading it less enjoyable. This is probably due to the author's background, having worked in an economics consultancy.

On the whole, though, I give the book a positive review as the content was sufficiently engaging. I think residents of London (among other groups) would particularly like the book as it helps them understand how their city has evolved.

[Ryan Purvis · Rating 4 out of 5]

Interesting read although now slightly outdated

Enjoyable from a number of points of view, such as someone involved in this specific industry and works in the same circles - also as it relates to Brexit. It’s a bit in the latter case more didn’t read books such as this to gain a greater insight.

[Dancall · Rating 4 out of 5]

Written before the Brexit vote, and very interesting to read as we approach the split from Europe. Lots of good stories and ideas (using the number of coffee shops in an area as a proxy measure for economic activity, for example). It also looks at the problems of the UK economy being so skewed to London, and how this is a problem. How right that was!

[Lucy Mazalon | Shelf of Maz · Rating 4 out of 5]

Really great read as I personally am a Flat-Whiter! Impressive stats and insightful introduction, although does get a bit heavy on the economics in the later chapters which I found harder to get through.

[Arif Shafique · Rating 3 out of 5]

Interesting read as brexit is now a reality. I was in UK at this time and in the east London where the author believe the digital economy started and not in the city or other places in UK.

[Nook of Nusrat · Rating 2 out of 5]

The Flat White Economy is flat white boring. The book just states some basic information. It does not have any original insight.

[Robert Christie · Rating 4 out of 5]

It's bigger than you think! goes a bit off track on the 3rd quarter of the book but definetly worth a read if you're interested in how the FWE got started in london; how much it's contributing to the UK; and what it means for the future.