Thursday, March 26, 2009
A specter is haunting Lawrence — the specter of frugality. This ghost has scared our nation and our community into the terrible affliction of thriftiness. How did this happen? When economies are in recessions, people start penny-pinching to save for a later date, spending less money on “feel-good” items such as new shoes or organic bread. Being parsimonious during this time of crisis displays poor confidence in our nation and our community.
Our economy is only as strong as the confidence that is placed in it, and right now, we students have not fulfilled our roles as protectors of our community’s future. Therefore, as the economy stabilizes from a very volatile year, every student should start focusing more on their own contribution to our nation’s troubles by going out and enjoying themselves during these next couple months before summer. Yes, that means every student should spend more money, especially in Lawrence where some businesses are in risk of closing.
Although spending more money to some might seem egregious, there are other benefits as well. In his March 24th column for the New York Times, John Tierney highlighted a study that proves that consumers are experiencing what he terms “hyperopia,” or “farsightedness,” when they are faced with the problem of thinking about the future too much, ignoring the present. He says people “end up looking back sadly on all their lost opportunities for fun.” This is another reason why we should not sew our wallets into our pockets and our purses, and we should go out and spend.
We can create experiences that we will remember for our lifetimes when we simply go to see that extra movie, or buy that extra margarita. Our lives are too short and our local economy needs you. Therefore, do the right thing and splurge.
— — Michael Stock is a junior from Merriam
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Comments
Letter: Students should stop hoarding cash and spend
Hey, Autumn... people with a true disposable income should be spending money. College students generally are not spending their own money. Most of the time, students are spending:
(1) Their parents' money. This is rude, presumptuous, and generally just disrespectful.
(2) Your student loan money. Hey students, just FYI...that $3 jack-and-coke might well cost you triple that when you finish paying it off in 2025.
If you think that you can just spend your money frivolously and expect there to be a job waiting for you when you graduate, you've got another thing coming. THAT IS IRRESPONSIBLE SPENDING.
Letter: Students should stop hoarding cash and spend
yea that sounds like a responsible thing to do. moron.
Letter: Students should stop hoarding cash and spend
swishymcjackass: Take an economics class before you call someone a moron. He knows what he's talking about, and he's right.
Letter: Students should stop hoarding cash and spend
Well, don't spend money meant for rent on something else, that is not what he is saying. And, saving is still good. But, if you don't buy anything, that is bad also. I was debating going to two movies this week when I read this. I see it as a sign. Thank you Michael, I will see those two movies. With nachos, thank you.
Letter: Students should stop hoarding cash and spend
I didn't know that we were so vulnerable to satire...
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