Wednesday, February 19th, 2020  |  11:47 AM

A Conservative Newspaper Promoting,
Life, Liberty, and the Pursuit of Happiness

Subscribe Now: Get your own copy of The US Journal

Will Jobs Ever Return to America?

Written By: Jon N. Hall  |  Posted: Tuesday, July 20th, 2010

Consumer spending drives 70 percent of the American economy. In such an economy, the individual must spend continually and lustily lest the economy fall into recession. But what's good for the economy isn't necessarily good for the individual. Right now the individual sees a 10 percent unemployment rate and fears he may be the next to be laid off. So he begins to save his money, reining in his spending. And as consumption ebbs, businesses fail, unemployment rises.

The conflict between the interests of the individual and the interests of the economy is not an indication of some fundamental flaw in capitalism, but of a need for rebalance: Things have gotten out of whack. Too much of the economy is made up of products and services that simply aren't essential. When hard times come, such enterprises are especially vulnerable to going out of business. Folks discover that their town, like mine, really doesn't need stores like Saks Fifth Avenue, Gucci, and The Sharper Image.

Sign into your account to read the rest of this article. »

Share this on Twitter  |  Share this on Facebook  |  Email to a friend.  |  Contact the editor.

What are your thoughts?

Want to read more of this article?

You must be a subscriber to read entire articles.

Gain 24/7 access to all the content on this website by becoming a subscriber.
Choose your subscription plan and get full access in minutes. Subscribe now. »

If you are already a subscriber, sign in now to read more full articles.

More National News

This Month’s Headlines

God Save Women from Other Women

This Month's Headlines

Trump's Energy Success

This Month's Headlines

The Democrat Party Needs to Wake Up

Deadly Isms

Mainstream Media Can't be Trusted

If it Damages America, It's Good for Democrats

Foreign Interventionism is Destroying Us