This means making do with the minimum that will serve the purpose. Art, food, drink, clothes, transportation, shoes, bags...

If we all became minimalists, it would be a disaster for the world economy.

Doctors would go out of business, as would slimming centres, diet advisors, ...

Retail stores would see their business resemble that of the 1929 depression.

GDP of all countries would resemble that of Sub-Saharan Africa (not sure where that is, but I thought it sounded appropriate).

Names would become shorter, because you don't need so many letters in it. Russian names of people and cities would eliminate all those unnecessary consonants...Awich and Bpova might become common.

Movie names would only have their short forms, like DDLJ and RHTDM, instead of the full forms.

Worst of all, marketing as a discipline may cease to exist...or re-invent itself as Mktg.

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