Monday, May 18, 2009
Ebbing economic tides
Rising tides usually lift all boats, while ebbing tides lower most if not all of them. When the economy grows, people don't mind when some prosper inordinately as long as they themselves are as well or better off than they were before. They like to believe they will also prosper. When the economy shrinks though, the easiest gains are often at the expense of others. For that reason, there is a strong counter tendency towards egalitarianism in times of economic stress to prevent this. We must find a commonality of purpose to pull together to overcome our hardship. We must share in the punishment and reward alike and strengthen our resolve to stand united or divided we fall.