Comments on: Could frugality be bad for the economy?

By: Wayne Silverman

Wayne Silverman — Mon, 20 Oct 2008 04:23:21 +0000

What’s really been bothering me lately is that the selection at my favorite thrift store has gone down. Because times are tight people are slower to donate, but, more people shop at the thrift stores…so selection has really gone down.
I love thrift stores and have been shopping there for 20 years. I can often buy some really nice, name brand (Lauren, YSL, Brooks Bros., Orvis, etc…) for pennies on the dollar.
Now everyone wants to be ‘frugal’ and save money…When did they decide to jump on my wagon?
Fact is ( I have training in economics) the frugal lifestyle could crash the whole economy. Our economy was built around steady consumption, without it the whole thing will need to be re-tooled.
It’s kinda like global warming. Global warming is bad if you live in Florida, but it could be great if you live in Nova Scotia!
The world changes, markets change, people change, but saving a little more money is a good idea in any case.

By: This recession can ultimately be a good thing | Sense to Save

This recession can ultimately be a good thing | Sense to Save — Wed, 15 Oct 2008 17:59:02 +0000

[...] Could frugality be bad for the economy? and An argument for frugality in the face of hard economic times at Living Well on Less [...]

By: An argument for frugality in the face of hard economic times « Living Well on Less

Sun, 12 Oct 2008 23:43:26 +0000

[...] I’ve been mulling over the article I read in Seattle’s paper last week that suggested frugality might be bad for the economy. So I’m fascinated by this essay from last week’s Time that insists the opposite: Real [...]