Micro-Economics Have Macro-Consequences


Here’s a great reminder as we enter the “Christmas season”:

Such statements [about the desire for thrifty lifestyles] are death threats to the system of waste, marketing-lashed desire, and obesity, both bodily and figurative, that is our present economy.  The masters, architects, and professional apologists of that economy fear the cabbage, abhor the potato.  That is why they spend $300 billion per year on marketing in the US alone: it is essential that the 99 percent be hypnotized into buying as much crap as we can possibly afford, preferably more.  If Gernot Wagner is right that personal choices don’t “add up to enough,” it’s strange that a third of a trillion bucks must be poured out annually to shape them.

For more, read the ORIGINAL ARTICLE on The Other Journal.

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