Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Tuesday, February 17, 2009

Get Rich! Just Like Me!

Facebook ads were strange and are just getting stranger.

Based on the pattern on this fellow's collar – which looks an awful lot like the military's new MARPAT camouflage pattern – I suspect this fellow is a member of the U.S. military holding up some Iraq or Afghanistan reconstruction money, not some entrepreneur showing off his hard-won earnings:


As our country spindles downwards into economic darkness, I feel like I've noticed a trend whereby the claims of internet advertising have become more ambitious and outlandish. As our lives get plainer, ads promise only more luxury.

Today, we're all suddenly focused on living within our means, we wonder how we'd manage if that job disappeared, we know that our current shared struggle was hatched from the simultaneous failure of our fellow countrymen's fatally flawed get-rich-quick schemes.

Yet we're still not attentive enough to notice that the image of the fellow holding tens of thousands of dollars in his hand is a ploy, a lie in plain sight. That money is not his and it's not yours, but maybe you're more likely to click the ad today than you were a year ago, because just for a second, you want to believe that you can succeed economically without wait or effort. Just for that moment, you look at the image without seeing, hoping for the chance to get rich because you're sick of a world that says you're lucky to get by.

Saturday, February 07, 2009

Yet Another Sign that the Economy is in Dire Straits

The number of people arriving at this blog after searching for something like Find Velveeta in Grocery Store has skyrocketed since the start of the year.

11/10/04: Find the Velveeta

Wednesday, October 15, 2008

When did Welfare Become a Dirty Word?

[This post is a part of Blog Action Day 2008 – Poverty.]

wel•fare. n. The good fortune, health, happiness, prosperity, etc., of a person, group, or organization; well-being.

The title of this post is a bit misleading—I’m pretty sure I know when welfare became a dirty word: ending welfare was a plank of the Reagan platform (“Welfare’s purpose should be to eliminate, as far as possible, the need for its own existence.”). But it got really dirty in the 1990s, when President Clinton promised in his 1993 State of the Union address to “end welfare as we know it”:

Later this year, we will offer a plan to end welfare as we know it. I have worked on this issue for the better part of a decade. And I know from personal conversations with many people that no one, no one wants to change the welfare system as badly as those who are trapped in it. I want to offer the people on welfare the education, the training, the child care, the health care they need to get back on their feet, but say after 2 years they must get back to work, too, in private business if possible, in public service if necessary. We have to end welfare as a way of life and make it a path to independence and dignity.
A year later, House Republicans and Republican candidates signed the “Contract with America,” the third tenet of which was:
3. THE PERSONAL RESPONSIBILITY ACT: Discourage illegitimacy and teen pregnancy by prohibiting welfare to minor mothers and denying increased [Aid to Families with Dependent Children] for additional children while on welfare, cut spending for welfare programs, and enact a tough two-years-and-out provision with work requirements to promote individual responsibility.
Finally, in 1996, Congress passed Personal Responsibility and Work Opportunity Reconciliation Act, replacing the Aid to Families with Dependent Children Program that had been in place since 1935. (PRWORA actually expired in 2002, but Congress has continued to fund it in the absence of a replacement program.)

The question really is, then, should welfare be a dirty word? Current events provide decent context for answering the question.

Welfare in the United States began with the Aid to Dependent Children program as a part of the original Social Security Act of 1935 (it was later renamed Aid to Families with Dependent Children for obvious political reasons). It helped fund state programs that, in essence, provided financial assistance to single mothers (later revised to cover any single parent). The general idea, it seems to me, was that children should not suffer because their remaining parent cannot bring in sufficient income to support them. This was obviously a serious concern during the Great Depression, but, in fact, many of the state programs were started much earlier in the century.

In this context, it makes sense that the 1990s saw the culmination of the backlash against welfare. Reagan Republicanism created the belief that welfare was a “reward” for not working. The flush economy of the 1990s reinforced the impression that not working was a “choice.” And, of course, the characterizations of “welfare queens” by the media had become the image of welfare.

But, of course, single parenthood didn’t go anywhere. Just the opposite. Divorce rates continue to climb at the same time that most states have eliminated alimony (child support remains, but is notoriously insufficient). The drug war has broken up millions of families, particularly those of color. And abortion has become a scarce commodity in many communities.

And now the economy, for lack of a better word, sucks. Commercial paper is the foundation for most large companies’ payrolls. The lack of credit will make it increasingly difficult for parents to house and clothe their children during gaps in employment. And, god forbid, should the equity injection prove insufficient or overseas investors start calling in debts, the federal government will have little choice but to print more money—read, inflation—making it next to impossible to pay for everyday goods.

In 1929, our generation’s grandparents were teenagers. Most came out the other side of the Great Depression able to house, feed, and educate our parents, making them most prosperous generation in history.

Don’t we want good fortune, health, happiness, and prosperity for the children of 2008?

Thursday, October 02, 2008

Smart Folks Talk Economics

Periodically, among friends and occasional blog readers, I have expressed some reservations about the motives of the Southern Institute of Higher Learning at which I am employed, but yesterday it did good. Real good.

Duke for all its odd politics and the occasional "southern charm" of its administrators, is one of the most open places I have ever been to. I mean that literally. There are no locks on the library (open 24 hours a day), and the pianos in the music department are for use by anyone in the community. The parking still sucks, the public transit is non-existent, and we have an honest-to-goodness coal plant in the middle of campus, but I will forgive them all that for today for putting together such an interesting panel of experts to discuss the recent financial crisis.



Now I don't agree with everything these folks say, but this is the first time I've had access to a real candid discussion about what the recent proposals on the Hill are supposed to do. If you're at all curious about the details that have been left out the stories politicians have been telling us of late, I encourage you to take a look/listen. The video is a little long, and gets dull at times, but its a good way to pass an evening paying bills or folding laundry or what not.

That is unless you are playing Palin-Biden debate Bingo tonight. That should take priority.