Tuesday, September 19, 2006
Counterintuitive season's greetings
It's that magical time of year when everyone talks about holiday sales, which is why it's helpful to read Dealbreaker: "The more cynical among us might even describe it as Economic Fallacy Season, as reporters buy hook, line, and sinker the idea that consumer spending is good for the economy. Never mind the fact that credit card debt only contributes to our savings problem. Never mind the fact that people don't get as much utility out of gifts as they get out of products they buy for themselves. And never mind the fact that the Holiday causes a major disruption to industrial output. And then there's all of the economic friction associated with temporary employment, parking, headaches, family fights, stores shutting down, etc."