Wednesday, August 04, 2004

Still No Real Economic Recovery

The Commerce Department released a series of economic numbers this week showing the economy's direction: "These are sour numbers; there is no sugarcoating that," says the president of ClearView Economics.


At 11:18 AM, Blogger umm-no said...

The NY Times report is about a drop in CONSUMER SPENDING. I thought you were against "consumerism," excessive possessions, and wealth? How can you advocate selling your possessions and at the same time decry a drop in consumer spending?

At 5:29 PM, Blogger jrl20 said...

I support an economy which is able to provide basic necessities for everyone: one which supports "the least of these." Such an economy must be equitable, but it must also be strong. Insofar as the consumer spending numbers suggest a weak economy, they suggest an economy which simply doesn't have the strength to provide for everyone.

I also just find it interesting that -- though economic strength, rather than economic equality, is clearly the central goal of this administration -- it can't even accomplish that. Not only is the focus on the wrong goal (total economic output rather than providing for everyone), the administration can't even achieve the goal it's chosen.

Finally, consumer spending doesn't necessarily imply SELFISH consumer spending. If a buy lunch for a street begger or a buy a coat to donate to the Salvation Army, then that counts as consumer spending.

At 5:31 PM, Blogger umm-no said...

But see, that's the problem. History proves that an economy strong enough to provide for everyone has to be a capitalist economy. Capitalist economies are inevitably predicated on selfishness.

At 5:39 PM, Blogger jrl20 said...

No, I don't think that history proves that. Did you miss the New Deal or something? We don't have a purely capitalist economy, and we haven't in a long time.


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