One of the imbalances on the original virtuous circle is the third part, the comsumption. Lots of people can't make ends meet because the desire, mistaken as needs, for consumer goods has exploded far far beyond basic necessities and what used to be satisfactory. Essentially, our materialistic desires grow faster and ahead of our wage earning abilities which somehow just can't catch up. Our material standard of living has risen tremendously but our expection keeps rising and we are never content, thus the inability to "make ends meet". During this process of trying to reach the acquisition goals, our quality of life actually decreases.
SUBJECT:
the economics article
DATE POSTED:
8/4/2000
NAME:
John Friedlander
It was both plausible and informative. I really enjoyed hearing the economic theory and the multi-sided, unideological speculation about what economic explanations might apply to the 70's and 80's.
