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Will spending habits change?
Topic Started: Jan 13 2010, 03:25 PM (127 Views)
John Galt
Fulla-Carp
Recession Generation?
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
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ivorythumper
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I am so adjective that I verb nouns!
Interesting article.
Quote:
 
Yet there is powerful evidence that belies this argument; a National Bureau of Economic Research (NBER) paper released this past September looking at data from 1972 to 2006 shows that even one really tough year experienced in early adulthood is enough to fundamentally change people's core values and behaviors.

After getting whacked by the decline of the architecture market in the late 80s and early 90s I became MUCH more economically conservative and the patterns of my Depression era parents made a whole lot more sense.
The dogma lives loudly within me.
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jon-nyc
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Cheers
It will make things worse in the short term, but perhaps it will save us in the medium term if its true.
In my defense, I was left unsupervised.
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Jeff
Senior Carp
jon-nyc
Jan 13 2010, 06:07 PM
it will save us in the medium term if its true.
Maybe the saving part, but if people change to believing the "luck versus effort" part of the article it would severely damage our economy in countless ways.
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