The consumer is all powerful in our economy and is lifted up as an aspiration for everyone. No one is supposed to have the old car, last season's clothes, or save money in any significant quantity. Yet I hear few reasons of why the spender should be praised except it circulates money and that's what we need. The downsides of course are that the spender does not multiple money but instead the miser hoards the spenders money.
My argument for why the spender should be praised is not rested upon the circulation of money. Money always circulates and goes where it is most dear. The spender is good because he forces companies to provide new things and always invent the next best thing. This gave us the latest computer model with the faster speeds and more storage. The spender demanding new things gave everyone the newest model of any appliance or new type of clothing we enjoy today. This is because the spender is not happy buying the same thing over and over while the miser still uses the 1950s fridge because it works. If everyone was a miser the world would have much less difference and made less progress. The miser sees those things as frivolous while the spender requires them and then everyone gets the blessings.
Just like in the previous post, everyone in the economy has an important role to play and each one performs a different but required function. If one of the actors were to disappear we would be worse off. No one should be belittled for what they do in the economy. The miser might not understand the spender but without the two competing ideas the economy would not function as well. So do not belittle the spender or the miser but lift both onto a pedestal and sway thanks.
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