On Dec 14, 2008, at 1:06 PM, Charlie wrote:
"Remember, the recession isn't all bad: Unsupportable debts are
being erased. Consumers are rebuilding their savings and lowering
their living standards to match reality. Workers are exiting dying
industries. And through distress sales, foreclosures, and
bankruptcies, assets are being taken away from weak hands and given
to strong ones, creating the conditions for future growth."
--Peter Coy, "Is the Jobs Panic Justified?", Business Week, Dec. 22,
2008
Teachers might want to parse almost every phrase of this remark in
class.
Charles Andrews
There's a "left" version of this:
<http://www.alternet.org/story/111802/life_after_the_economic_collapse%3A_how_having_less_will_make_us_happier/
>
Life After the Economic Collapse: How Having Less Will Make Us Happier
By Sarah van Gelder and Doug Pibel, YES! Magazine. Posted December
11, 2008.
Or, as Andrew Mellon said after the 1929 crash, a depression will help
us lead more moral lives.
Doug
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