During these difficult economic times, people start to blame each other for their own problems; some blame the government, some blame the rich, and some blame the poor. Accusing each other has so far proved to do nothing, however, and maybe it is time to work together to solve the country's problems. If we do not support each other and fuel the economy, we will only sink deeper into this hole, for we have begun to truly experience what many like to call "the trickle effect."I read an article in the New York Times titled "Who Gets Hit When the Wealthy Cut Back." The article discusses how the affluent are suffering economically now, and as a result, the lower working class is as well. This article mainly talks about the landscapers who work for the wealthy, and how they are having a hard time finding work now.
We have discussed one way to potentially solve an economic crisis is to put money back into the market by spending. Unfortunately, the wealthy are doing quite the opposite. Some are cutting back on the amount of people they have tending to their homes, while others are completely getting rid of their workers.
Yes, it may seem like the right decision for each individual homeowner to make in order to save money, but it is not helping the country as a whole. These landscapers are a large part of the economy and they are completely dependent on the wealthy class for work.
The wealthy need to support the economy by supporting the lower working class. By hiring and spending money on landscapers again, the lower working class will have more jobs available, they will be able to spend money again, the economy will begin to refuel, and the wealthy can then be refueled by the rising market.
We cannot blame each other during this time of economic crisis. We need to think more about what is best for our country than what is best for the individual. Reverse "the trickle effect!"
Article: http://www.nytimes.com/2009/04/04/your-money/04wealth.html?pagewanted=1&8dpc
3 comments:
Johnny,
This is so true. The rich need to help the economy and not "tighten their belts" as much as they have been because more and more jobs are being lost. "the trickle effect" is necessary to reverse the economic downturn and refuel America. But at the same time, its so hard to ask people to spend money and continue their lifestyles in such a bad situation.
The theme of blame has been apparent across different time periods in the event of economic crisis. When we read that packet of letters from the Great Depression era, many of the writers scapegoated different parties for the reason that the economy was doing poorly. Many blamed the government for not supplying enough aid the the people, and others blamed immigrants. The same thing is going on in our economy today, whether it be people blaming large corporations going bankrupt or their neighbors that just foreclosed on their home. People never feel responsible for how the economy is doing and always find others at fault.
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