That is different from average people consuming as little as possible, buying second-hand goods, and withdrawing into a kind of economic shell.
The kind of cost cutting that produces real savings and progress at the same time comes from innovation, not from contraction. When the economy is expanding, wealth increases.
But isn’t that a lot like what Obama is saying? Spend your way to prosperity?
Warren Buffett lives in a house he bought for $30K. He could afford much more. Billionaire Bloomberg wears shoes he’s had for 20 years. Most millionaires buy used cars.
Isn’t frugality simply wise financial stewardship? Just asking.
But isn’t that a lot like what Obama is saying? Spend your way to prosperity?
Warren Buffett lives in a house he bought for $30K. He could afford much more. Billionaire Bloomberg wears shoes he’s had for 20 years. Most millionaires buy used cars.
Isn’t frugality simply wise financial stewardship? Just asking.