James Livingston is a professor of history at Rutgers University and the author of four books. This is the first of two excerpts from “Against Thrift: Why Consumer Culture is Good for the Economy, the Environment, and Your Soul,” just published by Perseus Books:
"... Just to begin with, a much larger dose of consumer spending is absolutely necessary to prevent the kind of economic catastrophe that still racks the domestic and international economies. That new dosage requires a redistribution of national income away from profits, which don’t always get invested, toward wages, which almost always get spent..."
More of the baloney
Comment: The decline of economics seems to have no bottom.