Economic Traps

[ysabetwordsmith]

This article explains the vicious circle that kicks in when high prices force middle- and lower-class people to make not enough money stretch as far as possible. It's not that people are spending their money frivolously, or that they don't know how to make and keep a budget. It's that the jobs most people can get are not paying enough to support

Comments

Hmm...

[ysabetwordsmith]

You're right that people tend to equate wealth with virtue and will probably continue doing so. You're also right that poor people often buy into the foolish economic practices. But let's take a closer look at that list ...

Cell phones are now required for many jobs and other purposes. People throw a tantrum if you're out of reach, and refuse to let you have necessary goods and services.

Cable/satellite TV is quasi-optional. In many areas, it's the only way to get viewable reception, which is important if one is attempting to use the media for tracking the weather or other practical purposes.

Cigarettes are destructive, and better avoided. The problem with those, like all addictions, is that it's difficult or impossible to stop ... and they are designed that way on purposeVideo games have little or no practical value, other than relaxation