Pampering to Plump the Economy

We’ve heard the nation’s leaders warn that we can’t really dig ourselves out of this economic ditch until consumer confidence returns—in other words, until we all feel safe enough to get out there and shop. But this plan of action feels rash. Excessive, reckless, down-payment-in-shoes-style consumption is what got us into this mess. And who needs another pair of strappy sandals anyway? But there is one kind of shopping that can help make a difference. It’s the most indulgent, frivolous, pamper-me style shopping—the kind you’ve probably become too monkish to consider. But it’s the best thing for the economy, and for your toes, especially if you’re wearing last year’s styles.

One of the best ways to stimulate the economy yourself is to spend money on personal services, according to Dean Baker, founder of the Center for Economic Policy Research. “Personal services” is finance code for manicures and pedicures, facials, babysitters, lawn care, and dog groomers. Apparently, this is a more efficient and effective form of consumerism, for yourself and the economy as a whole. Service industries generally have low overhead and spend more of their revenue on paying staff than a typical store. They are also often locally owned, keeping your dollars not just within the country’s borders, but in your own community…