English Essay 1 Daniel Akst begins his essay “Thrift: The Rebirth of a Forgotten Virtue” by using legendary television show host, Jack Benny’s as an example of his cheapness to show how the term “thrift” has had a negative connotation for years. He then continues to inform the readers of the outstanding national debt American household have accumulated since 1980. The kind of “thrift” that Akst is referring to is the action of not spending money (Akst 510). Akst describes spenders as the people who are embarrassed to thrift and simply flaunt their money. As a result, evolutionary biologists concluded that females flock over a man with an expensive taste because it gives her certainty that she and their offspring will be well taken care of
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Akst is 39 years old and defines thrift as the action of not spending money and building one’s personal finances (Akst 510). However, this may result in inhibiting companies and businesses to expand as well as the economy to decline. Additionally, without consumer profit in needs, wants, and luxury goods then we are bound to face a recession. Therefore, I found that James Livingstons essay, “It’s Consumer Spending Stupid” provides credible information against Akst’s proposal. Livingston has been an economic historian for 35 years who believes that private investors doesn’t directly impact economic growth (Livingston 507). Therefore, his solution to most of the problems in the United States economy is to increase the consumer culture. With Livingston’s claims and credibility from his educational background, his urgency for Americans to spend more will help the economy in the future rather than utilizing …show more content…
Akst describes debt as staying in a dead end job, failing to provide for one’s dependents, and ultimately accepting unfortunate events in life (Akst, 515). However, saving one from debt doesn’t have much to do with saving or incorporating thrifting in one’s life. Debt comes from avoiding expensive or irrational purchases one can’t afford. Consumers saving money in Livingstons view is nearly equivalent to self-destruction. “We feel that if only we could contain our unruly desires. We’d be committing ourselves to a better future. But we are wrong” Livingston says (Livingston 508). If consumers stop spending money, then money wouldn’t flow to our local markets, boutiques, and small businesses. Thus, there will be huge consequences such as unemployment, budget cuts, and an increase in product prices that will directly affect everyone in a certain type of way. The act of spending money by consumers enables the financial system to re-invest our money to make more job opportunities, business grow, and ultimately prevent high levels of poverty. Although, if one does purchase an item that is well over their budget, then they are indeed enabling themselves for
Akst is 39 years old and defines thrift as the action of not spending money and building one’s personal finances (Akst 510). However, this may result in inhibiting companies and businesses to expand as well as the economy to decline. Additionally, without consumer profit in needs, wants, and luxury goods then we are bound to face a recession. Therefore, I found that James Livingstons essay, “It’s Consumer Spending Stupid” provides credible information against Akst’s proposal. Livingston has been an economic historian for 35 years who believes that private investors doesn’t directly impact economic growth (Livingston 507). Therefore, his solution to most of the problems in the United States economy is to increase the consumer culture. With Livingston’s claims and credibility from his educational background, his urgency for Americans to spend more will help the economy in the future rather than utilizing …show more content…
Akst describes debt as staying in a dead end job, failing to provide for one’s dependents, and ultimately accepting unfortunate events in life (Akst, 515). However, saving one from debt doesn’t have much to do with saving or incorporating thrifting in one’s life. Debt comes from avoiding expensive or irrational purchases one can’t afford. Consumers saving money in Livingstons view is nearly equivalent to self-destruction. “We feel that if only we could contain our unruly desires. We’d be committing ourselves to a better future. But we are wrong” Livingston says (Livingston 508). If consumers stop spending money, then money wouldn’t flow to our local markets, boutiques, and small businesses. Thus, there will be huge consequences such as unemployment, budget cuts, and an increase in product prices that will directly affect everyone in a certain type of way. The act of spending money by consumers enables the financial system to re-invest our money to make more job opportunities, business grow, and ultimately prevent high levels of poverty. Although, if one does purchase an item that is well over their budget, then they are indeed enabling themselves for