Latest News and Comment from Education

Saturday, August 18, 2012

To Build Community, an Economy of More Gifts and Less Money | Lefty Parent

To Build Community, an Economy of More Gifts and Less Money | Lefty Parent:


To Build Community, an Economy of More Gifts and Less Money


For many years now I’ve been uncomfortable walking into a big crowded shopping mall and feeling the energy of the place. It generally feels like most people are there for entertainment, shopping for stuff they don’t really need. Four years ago I remember people joking about how it is very much a contemporary American cultural practice to “Shop ’til you drop” (STYD), but since the Great Recession, I rarely hear that any more.
Good riddance I think! The United States has had an economy that depended on ever increasing domestic consumer spending more so than any other major economy in the world. I’m no economist, but I suspect that one of the reasons our unemployment rate continues to be stubbornly high through our slow recovery is that many of the STYD folks have found it necessary to hang up their shopping bags and cut up their credit cards.