Monday, May 20, 2013

Our Grand Addiction

Americans are back to their favorite hobby, shopping. In this case, it's a good thing.


  1. You say it's a good thing, but it strikes me as a crazy premise for an economy--Have you read Happy Money, the science of smarter spending?

  2. No, I haven't read that. In this case, a stagnant economy that is driven 70 percent by consumer spending, it is a very good thing to see more economic activity.

    Long term would we be better off if consumer spending was not the main driver of our economy? It certainly sounds like we would, but I'll leave that to the economists to decide.

    The whole study of macroeconomics is so complicated I don't feel qualified to say one way or another.