Friday, October 24, 2014
Jonathan Webb, Chapter 9, Question 6
A couple passages that interested me were where he mentioned how recessions can hurt other countries and also spending less hurts the economy even more while in a recession. It makes sense how a majors economy in the world can have an effect on others, but it's so interesting on how it happens. How these big consumers stop consuming from that country, but really they're hurting the economy even more. He even said in the book, if he decides to hold off buying a car till the next year because of how bad the economy is at that time, he just made his friend or someone else become unemployed. I have no clue all the details on how spending more during a recession helps the economy but I would love to learn more about it. Seems very interesting and hopefully this csn help us and even myself hoe to react to the next recession.
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