I've been wanting to make a few comments on the economy for a while. It's been on my topic list . I just hadn't sorted things out in my head as to what I wanted to say.
This morning I was listening to a radio interview about people working more than one job. Historically we can look back.
At one time there was only one wage earner per household and he/she usually worked at one job.
Today we have two wage earners in a family and in some cases both of them are working two jobs.
The economy has a number of tricks that keep people on a tread mill. A treadmill that keeps them purchasing more product. Build in obsolescence as in appliances that don't run very long. Same situation with cars. And while we're at it sell insurance on the poor appliance so they get to sell insurance as well as a product.
The way the economy is set up now it has to grow. So more product has to be made and sold. It's a vicious circle. Get more workers to work in factories to make things. More workers means more customers.
So people are caught with a huge amount of product to buy and they do buy too much. Customers must pay for the goods. You can use a credit card but that soon gets you into more trouble. So this morning they were talking about proceedings to help the poor folks who've come to the end of the rope with their money.
Families working more than two jobs started appearing before I retired from teaching. They wanted to do the right thing but didn't have time or money. They wanted to support their kids but didn't have time. It was sad.
The last few years prices have been rising very noticeably. Wages have not risen noticeably . So the economy goes into recession because it's not growing. The government pours money into the pot so people start buying things.
I realize this is oversimplified. I'm not an economist. I took a political economy class in 1958. That doesn't do me much good.
I am upset with the path the economy is on in the last few years. How long will many people have to work two or more jobs?
