Peter Webster Chapter 9 Question 7

The thing I found most interesting was how one person's thrifty spending during a financial crisis has such a big effect on others. I never thought about that. I assumed that during a financial crisis everyone SHOULD be saving their money, but in fact that is not the case. "My thrift-a decision to curtail my advertising budget or to buy a car next year instead of this year-may cost you your job, which will in turn hurt my business!" Wheelan says that the problem in those crisis situations is the nation's attitude. "If we all believe it will get better, then it will get better." If everyone assumes the economy will continue to be awful, they won't spend regularly. But in order to restore a good economy, people need to spend.