By James Livingston
Since the monetary meltdown of 2008, economists, reporters, and politicians have uniformly insisted that to revive the yankee Dream and renew financial progress, we have to retailer extra and spend much less. In his provocative new e-book, historian James Livingston—author of the vintage Origins of the Federal Reserve System—breaks from the consensus to argue that underconsumption triggered the present quandary and should lengthen it. via viewing the good Recession throughout the prism of the nice melancholy, Livingston proves that personal funding isn't the engine of progress we imagine it to be. Tax cuts for enterprise are as a result a recipe for catastrophe. If our objective is to breed the industrial development of the postwar period, we'd like a redistribution of source of revenue that reduces company earnings, increases wages, and promotes customer spending.
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Extra resources for Against Thrift: Why Consumer Culture is Good for the Economy, the Environment, and Your Soul
Such policies could, in sum, bring unprecedented health benefits without harming economies. 1 billion people smoke worldwide. 6 billion. In the high-income countries, smoking has been in overall decline for decades, although it continues to rise in some groups. In low- and middle-income countries, by contrast, cigarette consumption has been increasing. Freer trade in cigarettes has contributed to rising consumption in these countries in recent years. Most smokers start young. In the high-income countries, about eight out of 10 begin in their teens.
Centers for Disease Control and Prevention. Their assistance is warmly acknowledged. Page xi Preface This report has its origins in the converging efforts of several partners to address a shared problem: the relative neglect of economic contributions to the debate on tobacco control. In 1997, at the 10th World Conference on Tobacco in Beijing, China, the World Bank organized a consultation session on the economics of tobacco control. The meeting was part of an ongoing review of the Bank's own policies.
However, whether higher or lower, the extent to which smokers impose their costs on others will depend on many factors, such as the existing level of cigarette taxes, and how much healthcare is provided by the public sector. In low- and middle-income countries, meanwhile, there have been no reliable studies of these issues. The question of pensions is equally complex. Some analysts in high-income countries have argued that smokers "pay their way" by contributing to Page 5 public pension schemes and then dying earlier, on average, than nonsmokers.
Against Thrift: Why Consumer Culture is Good for the Economy, the Environment, and Your Soul by James Livingston