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robertogreco : thrift   9

[Essay] | Faustian Economics, by Wendell Berry | Harper's Magazine
"The general reaction to the apparent end of the era of cheap fossil fuel, as to other readily foreseeable curtailments, has been to delay any sort of reckoning. The strategies of delay, so far, have been a sort of willed oblivion, or visions of large profits to the manufacturers of such “biofuels” as ethanol from corn or switchgrass, or the familiar unscientific faith that “science will find an answer.” The dominant response, in short, is a dogged belief that what we call the American Way of Life will prove somehow indestructible. We will keep on consuming, spending, wasting, and driving, as before, at any cost to anything and everybody but ourselves.

This belief was always indefensible — the real names of global warming are Waste and Greed — and by now it is manifestly foolish. But foolishness on this scale looks disturbingly like a sort of national insanity. We seem to have come to a collective delusion of grandeur, insisting that all of us are “free” to be as conspicuously greedy and wasteful as the most corrupt of kings and queens. (Perhaps by devoting more and more of our already abused cropland to fuel production we will at last cure ourselves of obesity and become fashionably skeletal, hungry but — thank God! — still driving.)"



"The normalization of the doctrine of limitlessness has produced a sort of moral minimalism: the desire to be efficient at any cost, to be unencumbered by complexity. The minimization of neighborliness, respect, reverence, responsibility, accountability, and self-subordination — this is the culture of which our present leaders and heroes are the spoiled children.

Our national faith so far has been: “There’s always more.” Our true religion is a sort of autistic industrialism. People of intelligence and ability seem now to be genuinely embarrassed by any solution to any problem that does not involve high technology, a great expenditure of energy, or a big machine. Thus an X marked on a paper ballot no longer fulfills our idea of voting. One problem with this state of affairs is that the work now most needing to be done — that of neighborliness and caretaking — cannot be done by remote control with the greatest power on the largest scale. A second problem is that the economic fantasy of limitlessness in a limited world calls fearfully into question the value of our monetary wealth, which does not reliably stand for the real wealth of land, resources, and workmanship but instead wastes and depletes it.

That human limitlessness is a fantasy means, obviously, that its life expectancy is limited. There is now a growing perception, and not just among a few experts, that we are entering a time of inescapable limits. We are not likely to be granted another world to plunder in compensation for our pillage of this one. Nor are we likely to believe much longer in our ability to outsmart, by means of science and technology, our economic stupidity. The hope that we can cure the ills of industrialism by the homeopathy of more technology seems at last to be losing status. We are, in short, coming under pressure to understand ourselves as limited creatures in a limited world.

This constraint, however, is not the condemnation it may seem. On the contrary, it returns us to our real condition and to our human heritage, from which our self-definition as limitless animals has for too long cut us off. Every cultural and religious tradition that I know about, while fully acknowledging our animal nature, defines us specifically as humans — that is, as animals (if the word still applies) capable of living not only within natural limits but also within cultural limits, self-imposed. As earthly creatures, we live, because we must, within natural limits, which we may describe by such names as “earth” or “ecosystem” or “watershed” or “place.” But as humans, we may elect to respond to this necessary placement by the self-restraints implied in neighborliness, stewardship, thrift, temperance, generosity, care, kindness, friendship, loyalty, and love.

In our limitless selfishness, we have tried to define “freedom,” for example, as an escape from all restraint. But, as my friend Bert Hornback has explained in his book The Wisdom in Words, “free” is etymologically related to “friend.” These words come from the same Indo-European root, which carries the sense of “dear” or “beloved.” We set our friends free by our love for them, with the implied restraints of faithfulness or loyalty. And this suggests that our “identity” is located not in the impulse of selfhood but in deliberately maintained connections."



"And so our cultural tradition is in large part the record of our continuing effort to understand ourselves as beings specifically human: to say that, as humans, we must do certain things and we must not do certain things. We must have limits or we will cease to exist as humans; perhaps we will cease to exist, period. At times, for example, some of us humans have thought that human beings, properly so called, did not make war against civilian populations, or hold prisoners without a fair trial, or use torture for any reason.

Some of us would-be humans have thought too that we should not be free at anybody else’s expense. And yet in the phrase “free market,” the word “free” has come to mean unlimited economic power for some, with the necessary consequence of economic powerlessness for others. Several years ago, after I had spoken at a meeting, two earnest and obviously troubled young veterinarians approached me with a question: How could they practice veterinary medicine without serious economic damage to the farmers who were their clients? Underlying their question was the fact that for a long time veterinary help for a sheep or a pig has been likely to cost more than the animal is worth. I had to answer that, in my opinion, so long as their practice relied heavily on selling patented drugs, they had no choice, since the market for medicinal drugs was entirely controlled by the drug companies, whereas most farmers had no control at all over the market for agricultural products. My questioners were asking in effect if a predatory economy can have a beneficent result. The answer too often is No. And that is because there is an absolute discontinuity between the economy of the seller of medicines and the economy of the buyer, as there is in the health industry as a whole. The drug industry is interested in the survival of patients, we have to suppose, because surviving patients will continue to consume drugs.

Now let us consider a contrary example. Recently, at another meeting, I talked for some time with an elderly, and some would say an old-fashioned, farmer from Nebraska. Unable to farm any longer himself, he had rented his land to a younger farmer on the basis of what he called “crop share” instead of a price paid or owed in advance. Thus, as the old farmer said of his renter, “If he has a good year, I have a good year. If he has a bad year, I have a bad one.” This is what I would call community economics. It is a sharing of fate. It assures an economic continuity and a common interest between the two partners to the trade. This is as far as possible from the economy in which the young veterinarians were caught, in which the powerful are limitlessly “free” to trade, to the disadvantage, and ultimately the ruin, of the powerless.

It is this economy of community destruction that, wittingly or unwittingly, most scientists and technicians have served for the past two hundred years. These scientists and technicians have justified themselves by the proposition that they are the vanguard of progress, enlarging human knowledge and power, and thus they have romanticized both themselves and the predatory enterprises that they have served."



"If the idea of appropriate limitation seems unacceptable to us, that may be because, like Marlowe’s Faustus and Milton’s Satan, we confuse limits with confinement. But that, as I think Marlowe and Milton and others were trying to tell us, is a great and potentially a fatal mistake. Satan’s fault, as Milton understood it and perhaps with some sympathy, was precisely that he could not tolerate his proper limitation; he could not subordinate himself to anything whatever. Faustus’s error was his unwillingness to remain “Faustus, and a man.” In our age of the world it is not rare to find writers, critics, and teachers of literature, as well as scientists and technicians, who regard Satan’s and Faustus’s defiance as salutary and heroic.

On the contrary, our human and earthly limits, properly understood, are not confinements but rather inducements to formal elaboration and elegance, to fullness of relationship and meaning. Perhaps our most serious cultural loss in recent centuries is the knowledge that some things, though limited, are inexhaustible. For example, an ecosystem, even that of a working forest or farm, so long as it remains ecologically intact, is inexhaustible. A small place, as I know from my own experience, can provide opportunities of work and learning, and a fund of beauty, solace, and pleasure — in addition to its difficulties — that cannot be exhausted in a lifetime or in generations.

To recover from our disease of limitlessness, we will have to give up the idea that we have a right to be godlike animals, that we are potentially omniscient and omnipotent, ready to discover “the secret of the universe.” We will have to start over, with a different and much older premise: the naturalness and, for creatures of limited intelligence, the necessity, of limits. We must learn again to ask how we can make the most of what we are, what we have, what we have been given. If we always have a theoretically better substitute available from somebody or someplace else, we will never make the most of anything. It is hard to make the most of one life. If we each had two lives, we would not make much of either. Or … [more]
wendellberry  2008  economics  science  technology  art  limits  limitlessness  arts  ecosystems  limitations  local  humanism  humanity  humility  community  communities  knowledge  power  expansion  growth  interdependence  greed  neighborliness  stewardship  thrift  temperance  christianity  generosity  care  kindness  friendship  loyalty  love  self-restraint  restraint  watershed  land  caring  caretaking  morality  accountability  responsibility  respect  reverence  corruption  capitalism  technosolutionism  fossilfuels  waste 
may 2019 by robertogreco
Orion Magazine | Thoughts in the Presence of Fear
"I. The time will soon come when we will not be able to remember the horrors of September 11 without remembering also the unquestioning technological and economic optimism that ended on that day.

II. This optimism rested on the proposition that we were living in a “new world order” and a “new economy” that would “grow” on and on, bringing a prosperity of which every new increment would be “unprecedented”.

III. The dominant politicians, corporate officers, and investors who believed this proposition did not acknowledge that the prosperity was limited to a tiny percent of the world’s people, and to an ever smaller number of people even in the United States; that it was founded upon the oppressive labor of poor people all over the world; and that its ecological costs increasingly threatened all life, including the lives of the supposedly prosperous.

IV. The “developed” nations had given to the “free market” the status of a god, and were sacrificing to it their farmers, farmlands, and communities, their forests, wetlands, and prairies, their ecosystems and watersheds. They had accepted universal pollution and global warming as normal costs of doing business.

V. There was, as a consequence, a growing worldwide effort on behalf of economic decentralization, economic justice, and ecological responsibility. We must recognize that the events of September 11 make this effort more necessary than ever. We citizens of the industrial countries must continue the labor of self-criticism and self-correction. We must recognize our mistakes.

VI. The paramount doctrine of the economic and technological euphoria of recent decades has been that everything depends on innovation. It was understood as desirable, and even necessary, that we should go on and on from one technological innovation to the next, which would cause the economy to “grow” and make everything better and better. This of course implied at every point a hatred of the past, of all things inherited and free. All things superseded in our progress of innovations, whatever their value might have been, were discounted as of no value at all.

VII. We did not anticipate anything like what has now happened. We did not foresee that all our sequence of innovations might be at once overridden by a greater one: the invention of a new kind of war that would turn our previous innovations against us, discovering and exploiting the debits and the dangers that we had ignored. We never considered the possibility that we might be trapped in the webwork of communication and transport that was supposed to make us free.

VIII. Nor did we foresee that the weaponry and the war science that we marketed and taught to the world would become available, not just to recognized national governments, which possess so uncannily the power to legitimate large-scale violence, but also to “rogue nations”, dissident or fanatical groups and individuals – whose violence, though never worse than that of nations, is judged by the nations to be illegitimate.

IX. We had accepted uncritically the belief that technology is only good; that it cannot serve evil as well as good; that it cannot serve our enemies as well as ourselves; that it cannot be used to destroy what is good, including our homelands and our lives.

X. We had accepted too the corollary belief that an economy (either as a money economy or as a life-support system) that is global in extent, technologically complex, and centralized is invulnerable to terrorism, sabotage, or war, and that it is protectable by “national defense”

XI. We now have a clear, inescapable choice that we must make. We can continue to promote a global economic system of unlimited “free trade” among corporations, held together by long and highly vulnerable lines of communication and supply, but now recognizing that such a system will have to be protected by a hugely expensive police force that will be worldwide, whether maintained by one nation or several or all, and that such a police force will be effective precisely to the extent that it oversways the freedom and privacy of the citizens of every nation.

XII. Or we can promote a decentralized world economy which would have the aim of assuring to every nation and region a local self-sufficiency in life-supporting goods. This would not eliminate international trade, but it would tend toward a trade in surpluses after local needs had been met.

XIII. One of the gravest dangers to us now, second only to further terrorist attacks against our people, is that we will attempt to go on as before with the corporate program of global “free trade”, whatever the cost in freedom and civil rights, without self-questioning or self-criticism or public debate.

XIV. This is why the substitution of rhetoric for thought, always a temptation in a national crisis, must be resisted by officials and citizens alike. It is hard for ordinary citizens to know what is actually happening in Washington in a time of such great trouble; for all we know, serious and difficult thought may be taking place there. But the talk that we are hearing from politicians, bureaucrats, and commentators has so far tended to reduce the complex problems now facing us to issues of unity, security, normality, and retaliation.

XV. National self-righteousness, like personal self-righteousness, is a mistake. It is misleading. It is a sign of weakness. Any war that we may make now against terrorism will come as a new installment in a history of war in which we have fully participated. We are not innocent of making war against civilian populations. The modern doctrine of such warfare was set forth and enacted by General William Tecumseh Sherman, who held that a civilian population could be declared guilty and rightly subjected to military punishment. We have never repudiated that doctrine.

XVI. It is a mistake also – as events since September 11 have shown – to suppose that a government can promote and participate in a global economy and at the same time act exclusively in its own interest by abrogating its international treaties and standing apart from international cooperation on moral issues.

XVII. And surely, in our country, under our Constitution, it is a fundamental error to suppose that any crisis or emergency can justify any form of political oppression. Since September 11, far too many public voices have presumed to “speak for us” in saying that Americans will gladly accept a reduction of freedom in exchange for greater “security”. Some would, maybe. But some others would accept a reduction in security (and in global trade) far more willingly than they would accept any abridgement of our Constitutional rights.

XVIII. In a time such as this, when we have been seriously and most cruelly hurt by those who hate us, and when we must consider ourselves to be gravely threatened by those same people, it is hard to speak of the ways of peace and to remember that Christ enjoined us to love our enemies, but this is no less necessary for being difficult.

XIX. Even now we dare not forget that since the attack of Pearl Harbor – to which the present attack has been often and not usefully compared – we humans have suffered an almost uninterrupted sequence of wars, none of which has brought peace or made us more peaceable.

XX. The aim and result of war necessarily is not peace but victory, and any victory won by violence necessarily justifies the violence that won it and leads to further violence. If we are serious about innovation, must we not conclude that we need something new to replace our perpetual “war to end war?”

XXI. What leads to peace is not violence but peaceableness, which is not passivity, but an alert, informed, practiced, and active state of being. We should recognize that while we have extravagantly subsidized the means of war, we have almost totally neglected the ways of peaceableness. We have, for example, several national military academies, but not one peace academy. We have ignored the teachings and the examples of Christ, Gandhi, Martin Luther King, and other peaceable leaders. And here we have an inescapable duty to notice also that war is profitable, whereas the means of peaceableness, being cheap or free, make no money.

XXII. The key to peaceableness is continuous practice. It is wrong to suppose that we can exploit and impoverish the poorer countries, while arming them and instructing them in the newest means of war, and then reasonably expect them to be peaceable.

XXIII. We must not again allow public emotion or the public media to caricature our enemies. If our enemies are now to be some nations of Islam, then we should undertake to know those enemies. Our schools should begin to teach the histories, cultures, arts, and language of the Islamic nations. And our leaders should have the humility and the wisdom to ask the reasons some of those people have for hating us.

XXIV. Starting with the economies of food and farming, we should promote at home, and encourage abroad, the ideal of local self-sufficiency. We should recognize that this is the surest, the safest, and the cheapest way for the world to live. We should not countenance the loss or destruction of any local capacity to produce necessary goods.

XXV. We should reconsider and renew and extend our efforts to protect the natural foundations of the human economy: soil, water, and air. We should protect every intact ecosystem and watershed that we have left, and begin restoration of those that have been damaged.

XXVI. The complexity of our present trouble suggests as never before that we need to change our present concept of education. Education is not properly an industry, and its proper use is not to serve industries, either by job-training or by industry-subsidized research. It’s proper use is to enable citizens to live lives that are economically, politically, socially, and culturally responsible. This cannot be done by gathering or “accessing” what we now … [more]
via:anne  education  capitalism  economics  wendellberry  peace  war  terrorism  consumerism  food  farming  sustainability  9/11  violence  humanism  environment  children  parenting  responsibility  military  self-sufficiency  technology  technosolutionism  progress  innovation  nature  decentralization  newworldorder  growth  degrowth  prosperity  labor  work  poverty  freemarket  business  corporatism  freetrade  vulnerability  freedom  civilrights  government  security  peaceableness  islam  soil  air  water  thrift  care  caring  saving  conservation  agriculture 
november 2015 by robertogreco
Moral Aspects of Basic Income
"The fall of Adam and Eve is a metaphor for the demise of our hunter-gatherer lifestyle. Eden is the recollection of an oppressed peasantry of the more humane world of their happier ancestors. Before we bit the apple, we lived off the fat of the land. Hunter-gatherers lived longer, ate better, and worked less than their agriculturalist descendants. Average adult height, an excellent proxy for childhood nutrition did not return to levels seen in the Palaeolithic until a mere 150 years ago.

Archaeologists tell us the invention of farming may well have been the greatest calamity to befall our species. Kings and slaves, property and war all were by-products of agriculture. Even today, even when forced onto marginal lands, hunter-gather tribes often prefer to retain their old ways rather than till the soil. “Why work hard when god made so many mongongo nuts?” ask the !Kung of southern Africa.

The lifestyle of hunter gathers is much more easygoing than that of serfs and peasants. Subsistence agriculturalists worked from sunup to sundown. Hunter-gatherers “worked” a few hours a day. That was enough to feed and clothe and house their families. The rest of the time they could socialize, play games, tell stories. And “work” back then was hunting antelope with your mates or strolling through the savannah looking for nuts and berries. Farmers overwhelmed hunter-gatherers, not because their lives were more pleasant but because farming makes land so much more productive.

Of course, we cannot go back to those happier days. Farming can feed up to 100 times as many people from the same plot of land and soon farmers outnumbered hunter-gatherers. An expanding population locked humanity into a constant and arduous grind. Until now."



"A number of us here at Pieria have argued that a basic income guarantee (also called a negative income tax) will not only reignite the economy and overcome secular stagnation, it will be the salvation of capitalism. Yes, it provides a safety net for the most unfortunate and yes, it reduces inequality, but most important, by creating steady and dependable demand, it cures capitalism’s only weakness, over-production. By putting money in consumers’ pockets, a basic income guarantees consistent demand and so gives the private sector confidence to hire and invest.

The economics of this proposal strike me as clear and convincing. I want to focus now on its ethical implications. On the one hand, helping the poorest citizens seems the Christian (or Muslim or Jewish or   Buddhist or humane) thing to do. In a wealthy society, it is unnecessarily cruel   that anyone among us should lack shelter, warmth and food. A negative income tax takes care of our most vulnerable without creating another government bureaucracy."



"If a conservative is someone who cherishes the time-honoured ways, is a bit odd that conservatives should exalt free markets. After all, capitalism is the most revolutionary force the world has ever known. Whenever it meets a traditional society, it turns it upside down. The rise of fundamentalism, in the Islamic world, in America, in India, is a global phenomenon and so requires a global explanation. The simplest is that capitalism, by shattering age-old relationships leaves many of us lost and alienated without the ancient verities that gave logic to our lives. “All that is solid melts into air. All freed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify.”

Capitalism has been magnificent in producing wealth and increasing productivity. Unfortunately, It happily serves our baser instincts. GDP goes up whether we spend on guns and Internet porn or education and opera tickets. When money is the measure of the man, when consumption is our only goal our culture becomes shallower, and perhaps so do our relationships. And it is getting worse.

Thrift was the original capitalist virtue. According to Max Weber, upright burghers would limit consumption in order to purchase productive machinery or finance transoceanic voyages. By avoiding sumptuous consumption, our frugal protocapitalist could invest his capital and so increase society’s productive capacity. That was admirable. That was then.

Today, thrift is passé. These days, we serve capitalism by buying stuff, even stuff we don’t need. Thrift no longer has much economic purpose. We have a savings glut, we have a labour glut, what we don’t have is a consumption glut. The world economy doesn’t require prudent savers, it needs us to max out our credit cards just to keep unemployment below 7%. No wonder our children are obsessed with buying the coolest football boots or the dress they saw in Vogue. It is as consumers that we best serve global capitalism. Sadly this addiction to consumption may offer a bump to GDP but it does not create happiness.

What makes us happy, as Adam Smith recognized in The Theory of Moral Sentiments (the book he thought his masterpiece) is the regard of others. What brings me joy is not a new toy but the look on my wife’s face that tells me she loves me. What makes me happy at work is not the corner office but what that symbolizes: the sense that my boss admires and respects my talent and effort. A man buys an expensive watch because he thinks it will impress his mates but sadly, no one even notices. When a middle aged man pulls up in a candy red Ferrari, he rarely makes the impression he had hoped when he put down his credit card.

What we admire in others are not their possessions but rather the same virtues we admired back in the Palaeolithic: kindness, loyalty, bravery, generosity, beauty, strength and a sense of humour. Check out the personals ads: a sense of humour trumps an expensive watch every time. Today most of us work long hours, seeing our children less than we would like while others are utterly idle, unable to find work at all. We act as though we live in a world of scarcity when actually will live in a world our ancestors would have thought abundant beyond their wildest dreams. In terms of material comfort, you and I and even the guy in the hoodie down at the council estate live better than Charlemagne or Cleopatra.

Hunter-gatherers shared. Farmers and factory workers, for the most part, did not. In many tribes, a successful hunter would give away 90% of the meat from his kill. He certainly gained respect (and perhaps female companionship) for his prowess but the families of mediocre hunters also got to eat. Anthropologists suggest this propensity for generosity served everyone’s interests. Since no one family can eat an entire buffalo and even the best hunter sometimes goes a while without a kill, sharing the proceeds of a hunt is not just generous, it is an economically sensible insurance policy. So is a basic income guarantee.

We can afford a basic income guarantee. We can give every citizen enough money to survive. It will stimulate an economy starved of demand. It will make our society more equitable. It will feed the hungry and house the homeless. It respects the individual. It provides a constant level of demand that firms can depend on and so stimulate the animal spirits of businessmen. It will strengthen workers bargaining position because they will be able to tell their employers to “take this job and shove it.” It will also reduce labour costs since firms won’t be required to provide a living wage. It will give us more free time to dance and play and love our children. I would also suggest, it might just end up making us better human beings. "
economics  politics  universalbasicincome  christianity  ethics  morality  2013  maragretthatcher  larrysummers  labor  work  history  capitalism  freemarkets  markets  tomstreithorst  adamsmith  thrift  kindness  loyalty  bravery  generosity  johngrey  neoliberalism  malthus  karlmarx  capital  hunter-gatherers  ubi 
february 2015 by robertogreco
The Little Virtues, by Natalia Ginzburg | Caterina.net
“As far as the education of children is concerned, I think they should be taught not the little virtues but the great ones. Not thrift but generosity and an indifference to money; not caution but courage and a contempt for danger; not shrewdness but frankness and a love of truth; not tact but a love of ones neighbor and self-denial; not a desire for success but a desire to be and to know.”

[posted here now: http://robertogreco.tumblr.com/post/108156515763/as-far-as-the-education-of-children-is-concerned ]
nataliaginzburg  education  parenting  virtue  virtues  thrift  money  generosity  frankness  truth  glvo  tect  self-denial  knowing  being  interdependence  individualism  courage  caution  danger  shrewdness  neighborliness 
january 2015 by robertogreco
unconsumption
"Consumption = word used to describe acts of acquisition...of things, in exchange for money. Unconsumption is a word used to describe everything that happens after an act of acquisition...an invisible badge...accomplishment of properly recycling your old cellphone, rather than the guilt of letting it sit in a drawer...thrill of finding a new use for something you were about to throw away...pleasure of using a service like Freecycle to find a new home for the functioning VCR you just replaced, rather than throwing it in garbage...enjoying things you own to the fullest – not just at moment of acquisition...pleasure of using a pair of sneakers until they are truly worn out – as opposed to nagging feeling of defeat when they simply go out of style...feeling good about simple act of turning off lights when you leave room...not about rejection or demonization of things...not a bunch of rules...an idea, set of behaviors, way of thinking about consumption itself from a new perspective...free."

[wiki here: http://unconsumption.pbworks.com/ ]
unconsumption  sustainability  consumption  consumerism  design  culture  trends  green  recycling  simplicity  luxury  value  unproduct  upcycling  beausage  plannedlongevity  thriftiness  thrifting  thrift  glvo  diy  make  dowithout  wabi-sabi 
may 2009 by robertogreco
The End of Obsolescence: Engineering the Post-Consumer Economy: ETech 2009
"Consumerism is crashing, but the logic of digital, networked products promises a path forward. The emerging sustainable economy connects a renewed “repair culture,” to reputation systems for companies and customers. It leads to the platformization of everything, ultimately allowing digital products to drive an overwhelming share of economic activity. The result will be a refreshed economy less bounded by the limits of natural resources."
etech  2009  postconsumerism  plannedobsolescence  plannedlongevity  repair  diy  sustainability  thrift  platformization  repairing 
january 2009 by robertogreco
The Wallet : What A Bear Market Might Teach Us
"So I know what it means to scrimp and save, to do more with less, even to do without. The most important lesson that I learned, I believe, is that money is not wealth. Benjamin Graham once wrote that the secret to happiness is learning to live well within your means. Did he mean to “live well” within your means, or to live “well within” your means? I think he intentionally left the sentence ambiguous." ... "My kind of childhood might not have been for everybody, but a couple of steps back in that direction wouldn’t hurt anybody. Take it from someone who most emphatically was not born with a silver spoon in his mouth: Thrift really is a virtue. Like all virtues, you have to practice it to keep it. And most people won’t ever practice it unless they feel they have to."
money  economics  wealth  life  simplicity  frugality  thrift  culture  us  investing  finance  wallstreet  cv 
december 2008 by robertogreco
The Post-Materialist | Austerity and Style - The Moment Blog - NYTimes.com [see also: http://imomus.livejournal.com/401409.html]
"Japan — the advanced nation with the longest recession in recent memory, where property prices have been sinking gently since the early 1990s, and where austerity evokes local traditions of restrained, elegant beauty...A range of Japanese lifestyle magazines — Ku:nel, Sotokoto, Lingkaran, Kurashi No Techo and Tennen Seikatsu — is currently painting a much more positive and relaxed picture of austerity, drawing on Japan’s traditions of egalitarianism and thrift, as well as the post-recessionary popularity of its Slow Life and Slow Food trends. These magazines promote the idea that there’s virtue and utility — but also beauty, pleasure and natural sensuality — in life after affluence."
momus  simplicity  japan  austerity  postconsumerism  postmaterialism  slow  sustainability  environment  green  style  life  slowlife  slowfood  magazines  trends  economics  thrift  frugality 
september 2008 by robertogreco
Interfluidity :: Financial system failure and the paradox of thrift
"Our financial system is failing spectacularly because it erred grievously. It built homes and roads and sewers that oughtn't have been built, it "invested" in vacations and plasma televisions, and it paid itself handsomely for doing so. That's not a problem we can spend our way out of. To fix the financial system we have to change it, not rally to its support. We will know we've put things right when thrift is something we can celebrate, when we save because we are excited about what we are creating rather than frightened by what we might lose."
economics  spending  money  thrift  change  reform  crisis  finance 
august 2008 by robertogreco

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