Tuesday, November 25, 2008
What Would a Depression Look Like Today?
A thoughtful, if conjectural, article at the Boston Globe.
"Unlike the 1930s, when food and clothing were far more expensive, today we spend much of our money on healthcare, child care, and education, and we'd see uncomfortable changes in those parts of our lives. The lines wouldn't be outside soup kitchens but at emergency rooms, and rather than itinerant farmers we could see waves of laid-off office workers leaving homes to foreclosure and heading for areas of the country where there's more work - or just a relative with a free room over the garage."
I can see people cocooning with their old laptops, stealing free wi-fi, blunting out the boredom by mainlining technology. Or, maybe we'd have more trade and barter, more community and creativity, more stuff made out of junk. Rent party anybody?
image: Swoon's Swimming Cities of Switchback Sea