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Assuming we could convince individuals and the public, is there any feasible scenario where Americans would resolve to work hard, live briskly, save and defer '
by bernaysway 6y ago
Assuming we could convince individuals and the public, is there any feasible scenario where Americans would resolve to work hard, live briskly, save and defer 'wanton' type behavior for 24-months? And simultaneously allow the government to spend less and perhaps a one-time 2 tax as a way to save the fiscal system of the US.
The only way it would work is if we could somehow dramatically the improve the lives of say 100 million people. (Ignoring all the common objections and fallacies.)
- TheAdamAndChe 6y agoNot really. We can't even get people to wear masks. Also, spending less during a recession is a good way to deepen the recession.
- sukilot 6y agoThat's partly bad accounting, where a $1 of useless entertainment or luxury is considered the same as $1 of food or medicine.
- sukilot 6y agoParadox of thrift. If everyone saves, there's nothing to do hard work on, so currency inflates. The approach only works if we can use our work to stockpile durable goods.
- TheCoelacanth 6y agoInvesting in things that increase future productivity also works.