"What a great site! I'm impressed by the great stuff you've pulled together. It merely confirms my long-held belief that economics CAN be interesting....
All the best"-
Charlie Wheelan,
aka The Naked Economist
It's so strange that economics is largely abstract ideas, starting with the worth of money. Consumer confidence really makes a difference to the economy by lowering the amount of consumer spending, setting off a vicious cycle that results in more people getting fired, to more people spending less, and so on... So then if consumer's are given false confidence, say from false advertising that says the economy is and will do better, then could that actually improve the economy by increasing consumer spending? It's all a little too complicated for me!
2 comments:
It's so strange that economics is largely abstract ideas, starting with the worth of money. Consumer confidence really makes a difference to the economy by lowering the amount of consumer spending, setting off a vicious cycle that results in more people getting fired, to more people spending less, and so on... So then if consumer's are given false confidence, say from false advertising that says the economy is and will do better, then could that actually improve the economy by increasing consumer spending? It's all a little too complicated for me!
No, you've got the idea.
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