I recently had a conversation with a friend who argued that the current economic trouble in the country and around the world might lead people to re-evaluate their values, re-assess what is most important in life, and realize that they had been leading lives too determined by material goods. As I drove around town and saw the third and then the fourth drive through coffee kiosk closed, out of business, bankrupt, I realized, people are not buying that coffee as much because it's the first and easiest item on our personal economic agenda that is obviously defined as a luxury. I thought, that guy who now cannot afford a $4 latte is not saying, "wow, now I really value what I have." Instead, he is saying, "wow, I am suffering because I now cannot afford that coffee." What rubbish! In fact, I think the current economic crisis will only accentuate our materialism, making us miss what we have now defined as "needs" but what, in reality, are not needs at all. We may be beyond help...how many people do you know who define themselves as "poor" but who also have cable tv and cell phones? The current economic trouble will not lead us to re-evaluate our values because we are hopelessly devoted to a world that can be bought rather than one that has internal significance.
What do you think?
Castle of Juana la Loca
Medina del Campo, Espana
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26 comments:
I think that the economic slowdown doesn't make people re-evaluating their values. Of course, people try to save money. Now, they are rather economical about their spendings than before; however, they wouldn't enjoy or appreciate the coffe more just because it's consider as a luxurious good. As soon as the economy recovers, people are rather likely to spend more money again. And when that happens no one would appreciate a coffe anymore as well. Furthermore, no one would think "wow, lucky me, now I can afford a coffe again!"
All in all, the economic crisis affects people's spending behavior. They become more economical, but they don't re-evaluate their values.
As usual, good thinking, Jasmin. Yet, at a certain point, this is what economic depressions do. It's just a matter of how far we must sink before such a thing as values and principles are impacted. Think Germany 1920s or the U.S. in the 1930s...the depression in those countries left an invisible scar and changed fundamentally who those people were and what they believed about spending and saving and if success was possible.
I think something massive is going to have to happen before we re-evealutae our values. For some reason it seem that more people care less and less about values today.I think most of us care but the majority of us dont physical do anything to change. We do tend to change litte things, like the coffee example, but nothing to major.
aww aw usual jasmin!!! hahaha!!! anyways thus far I don’t know anyone who is poor, but I do know people who are cutting back... trying to save, and yet there are the have been always will be poor people that out country has never figured out a way to help…I don’t fully understand how serious our country is hurting right now, and I guess I won’t understand until it hurts near home big time, but as of right now I’m looking forward to January 20th 2009 and the outcome it brings in 4 years…
i think that something as big as an economic depression could actually make people re-evaluate their values, but only until the economy gets better. We, as americans, enjoy the opportunity of coffee and material things. So, if the economy is bad: then, yes we will miss the coffee, but if the economy is good: there's no reason not to have a coffee...
well, probably made no sense but yehhhhhhhhhhhh heh
i think the current economic crisis will make us miss the good old days, because i feel guilty when i spend my money on stupid things like fast food. the effect the economy has on us is the way we spend our money. I think in order for us to re-evaluate our values there will have to be a bigger economic crisis.
I really agree with the fact that many people say they are poor but they do have things that others don;t. This world has become very materialistic and its true I admitt that I also miss what I can't have, I believe that it is an inevetable thought that comes to you at first. There will always be many people who are materialistic but sometimes the only way they re- evaluate their values is when they are getting kicked out of their houses and fired from their jobs and its really sad that people think they are poor when they can't pay their cell phone bill.
Ok, Dr. Schmoll, I admit that you're right :) For example, my grandmother grew up in times of war, and you can still notice it in her prevailing behavior. Everytime I would walk the dogs with her and we would pass an apple tree with apples all over the ground, she would say: "In times of war no one would just let them lay there!" ... Another funny thing she does is buying tons and tons of canned food - just in case, because another war could break out. She also keeps the old frying oil in the cooking pan to save money; even though, new frying oil doesn't cost a lot. Everytime I would tell her that this habit might be a little bit gross she would just look at me rolling her eyes: "You're young, you don't understand that!"
I actually stand by sarah's comment. I do not know any poor people, so it's hard to see these postitions. I do know this econoomy is making people cut back, way back. I know our family has cut back a bit, but maybe it will improve, hopefully.
During this economic crisis I think many people will focus on what they are "missing out on" rather than the things in their life they could be thankful for. People should be re-evaluating their values and some are. We do not know how long this economic crisis is going to last and people need to be prepared for what is to come. But as many others have said, it will most likely take a big economic depression for americans to re-evaluate their values.
i agree that we are beyond help. i grew up with a computer and a tv. if i was to loose that now id feel like i lost connection with the world outside of bakersfield. good thing we have a dollar menu at mcdonalds
I agree with you Dr. Schmoll. I think Americans are cutting back on their expenses because they have to. They would rather not be in this situation;hurting economiclly. They are just waiting it out until the crisis recovers and can get back to their former spending habits.
I think that in such a economic crisis in the country, people are not really re-evaluate their values yet. They are just cutting back and they are hoping that very soon they can start spending more money for many unnecessary items.
Since I am from China, and I have an American husband now, I have deep impression about American's spending habit -- buying things that "wanted" instead of really "needed". My mother-in-law has bunch NEW clothes in her closet still with the tag on. She bought those and forgot those. She never worn those on, but she already spent the money on.
When the economic situation was ok last year, I was always told by my husband that something was cheap, so even though it is a waste, that's not a big deal. He loves buying things from Costco, because the price is cheapter compare to grocery store. But I dislike buying things from Costco, because the package was so big and wasteful. Everytime we always just consume maybe 1/4 of those in the package and the rest of the thing would be put in the refrigrator and wait to be thrown away.
Nowadays, my husband started listening to me not to buy things we don't really need now. Or sometimes we will say "not this time". We will wait to buy things when we must need it. And we reduced the time going to the Costco, instead we go to grocery store and Asian market and Mexican market to buy small packaged stuff with cheapter price but same quality.
So my opinion is that American people haven't really realized the value what they have, they are just suffering. It will take longer time for American people to change their spending habit, then they will just re-valuate their values.
I do believe people are re-evaluating their values but not in the way you would hope. Now a days people don't consider owning a phone or having cable to be a luxury but rather a necessity. Sure we give up the occasional coffee and the eating out, but these are thing with little value to us. As consumers we rather give these up and afford buying a plasma TV instead. No one is willing to give the so called luxuries that we have.
I think people are finally realizes how bad the economy is becoming. Everyone knew it was going to occur at sometime, but no one wanted to believe it or change their spending habits. And now that people are actually realizing were heading for an economic crisis it making our society re- evaluate what is really important to them.
I think that our economy has made us stop and think twice before buying that cup of coffee or the number 3 at in-n-out. I haven't seen the stocks hit the negative marks on a usual basis and that to me is something to worry about. It is starting to effect the global economy. I admit I am concerned, but I heard someone say that "Our economy will struggle for a year, but we'll bounce back again after the year." As for re-evaluating our values, it would probably take something drastic to make us re-evaluate. Maybe an economic depression? Maybe paying for candy at ten dollars a piece. Who knows? As for now, I am holding off purchasing a Macbook Pro. Just in case...
i don't think that since the economy i slowing down that its bringing down peoples values too. if it is then your values aren't very strong. the values a person has can't be brought down by manly disasters and downfalls; a person lets them go on their own by their free will.
Todays economy is not nessecarily bad but scared. The media announcing it and the election saying it over and over and over scares the people ino saving their money instead of spending it on that 4 dollar drink. By saving their money because their scared something will happen to them and their buisness hurts the coffee shop, although more than likely they can afford it they are just afraid to spend it. Maybe our economic crash will help our society, but it needs to be hit hard because i know i still get starbucks once a week and the line is still out the door as it always has been. I think right now it is not helping buisnesses by saying its bad because it hasn't effected everyone yet.
I agree that the current economic trouble will not lead us to re evaluate our values. Moreover, It will only make us more aware, and cuatious about our spending habits. In addition, when we are faced with tough times we are more prone to be optimistic about our futures. Also, in my opinion even in tough times we still maintain a materialistic mentality.
We are so attached to our things that we do not want to give them up. We think we are poor just because we can't get the things that we want. If we can't afford that new television, we think we are poor. We should really be happy about everything that we have, not just materialistic things, but also just having our lives. We maybe poor money-wise, but if we have our health and others around us, then we are about as rich as you can get. We should look at the inside, and not judge ourselves as poor by looking at the outside.
I strongly believe that these economic problems have made people think twice of what is necessary. Its a good thing. We shouldn't always think of materialistic items. Life is about so much more. My grandparents would always tell me stories of how it was back in thier day and i cant say i fully understand what they went through because its not as bad but i do have a little more consideration.
i agree. It will take a big awakening for us to re-evaluate ourselves. We have become too materialistic and the economy is not yet that bad. It's taken its toll on the little luxuries of life. The economy can get much worse and probably will. It is then that people will HAVE to re-evaluate themselves.
If you ask me Im poor. This year I havent spent money on clothes. I cant afford any. The main reason is because I dont have a job. My parents have been spending less money on material things and only pay for what is nesecary. I do have a phone but its because the money I have in the bank is paying for it but when the money is gone I wont have a phone anymore. So I guess when we say we are poor we mean that we cant afford things that go beyond what we need like a new pair of shoes my closet may be full of them but I cant buy anymore cause i dont have money to spend.
I actually do know some poor people and it is disheartening to see them in a poor state of their lives. I guess you could say it was "their" own fault. but i still feel bad.
The economic crisis is opening up my eyes a lot. i know that i am watching what i spend and what not. I also try to help out my friends and remind them that we don't have much money; especially in college!
I think that people in America think too much about money. Main goal of most of the people i know here is to get rich. If it is not to get rich then is to earn enough money to support their kids. Then they kick their kids out of their house when they are 18 so they don't spoil them. Then they start buying houses on beach, building pools and donating money to some random organizations. That is why people think that economy is bad, that is why people think it is too much to pay $4 for coffe. Economy is not bad. We made it bad cause we think is bad. If we start to think more about important things like people and less about unimportant like money we may make economy better by not being so greedy. I might miss the whole point of the blog subject, but this is thing that is really bothering me.
i think not only does this economic slowdown may lead people to re-asses their values, but is also helpful and may indeed be a good thing that we have an economic slowdown. I know some people that really used to burn off money before this ans be like, ehh its just 5 dollars. with this slowdown, they think a little more, but still don't care about the change such as nickles penny's ande dimes. they still usually buy what they want, and really don't think this slowdown is of big significance. As long as we are in recession though, i think there eyes will start to open and think twice to spending.
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