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Be Nice to Rich People
Paul Krugman blogged about the “paradox of thrift,” one of John Maynard Keynes’ ideas, for the New York Times this morning. Basically, people are saving instead of spending, which negatively affects the economy, which results in more job losses, which causes people to cut spending, and so on…
Funnily enough, yesterday a friend who has a designer retail business was lamenting the trend of lambasting the rich for shopping. Yes, extravagance is unseemly these days. But, she heatedly asked, if the people with the most disposable income aren’t spreading their dollars around, how the hell are we going to get out of this? It was hard to disagree in principle, and yet hard to agree on an emotional level.
So smile the next time you see someone coming out of Prada, Hermes or Bergdorf’s with a shopping bag, even–or especially–if it’s unmarked. Who knows, they might just have been there for the sale. Even Vera Wang‘s Madison Avenue shop, I noticed today, is offering 70 percent off.
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5 comments for “Be Nice to Rich People”
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I am far from rich, have disposable income and am able to spend. I realize that I am so emotionally into this recession that I resist spending on even small extravagances. Maybe I have sympathy pains for my friends who have lost their jobs. Thanks for giving me a rational reason to spend.
Didn’t realize that being rich was such a burden. Perhaps the rich should consider giving their money away and try being poor for a while.
They should try living in a room with their parents when they are unable to find a job too. Rich folks need to give up more than disposable income. They need to learn how to live simple lives outside the means of capitalism. They have no idea. Especially old money folks.
I don’t have an issue with rich people. or even money, hell I LOVE money. I have a huge issue however with the tremendous amount of hubris that has come hand in hand with this craziness. now replacing that hubris is dread and fear.
the little people, believe me they will manage. even the ones who’ve made their money helping the rich walk their dogs, raise their children (yes RAISE them b/c when you’re spending your weekend playing with your friends while you have your children carted around to their activities during the day by their nannies…), cut their lawns…they will survive.
the drop down sucks. ask anyone from any generation who has had to make that adjustment due to financial or social changes.
well i use to be a window cleaner,i use to clean rich peoples windows and i found they were just the same as anybody else some nice, some horrible…if my health was good i would be still doing it, good money as well £300 per week..shame how things work out….