> Job Cuts at ABC Leave Workers Stunned and Downcast
>
> [snip]
>
> Morale is very low, according to some of the dozen ABC News staff members
> who agreed to be interviewed for this article. Most spoke on condition of
> anonymity because they were not authorized by ABC to speak publicly.
>
> People are "walking around like they've been punched in the gut," one of the
> employees said, referring to people still with jobs.
I was just reading (well, sort of trying to read) a paper which
suggested that "excess sensitivity of private consumption to current
disposable income" is a serious economic problem. So, we have to do
something about the people who only spend money that they *actually
have*? Such people were labeled as "myopic".
If a quarter of your fellow employees have just been canned, you might
tend to get a bit more myopic. The people canned will likely be
compelled to do so.
Anything that prevents or deters "consumers from realizing their
desired consumption" is apparently bad thing, never mind if you're
destined to hit a debt wall at 90 mph or drive over an unemployment
cliff. Is it any wonder that I think economics as she is wrote is
voodoo?
(Admittedly, it was a 2004 paper. Maybe nobody writes that way any
more.)
FWIW,
- Mike
--
Michael Spencer Nova Scotia, Canada .~.
/V\
[email protected] /( )\
http://home.tallships.ca/mspencer/ ^^-^^
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