After September 11th, President Bush encouraged us to spend to show our patriotism. In the wake of the recent financial disaster on Wall Street, we are again encouraged by the media to get out there and stimulate the economy.
As someone who is trying hard to cut back, make do, and do without, I find this advice worrisome. Am I being a "bad American" because I'm not spending? Is it wrong to try to live more by the standards our grandparents had then the throw-away standards that are so popular today?
Absolutely not, says Dr. Juliet Schor, an economist and professor at Boston College. Read the whole article here.