I know a balance is needed. But it’s always stressed how you need to save. Isn’t saving taking away from someone else though? Isn’t spending in many cases giving a working class person a job? If you eat out, buy clothes, get a massage even go to a casino, people are getting paid to do those jobs. If everyone saved then what?
In: 2
Generally when you “save money” unless your putting in gold bars in the swamp, its generally either going to a bank, government bonds, or stock. So when you put your money in a bank, a portion of that money is being lent out for other people to use. Either a mortgage or a house etc. When you buy a government bond, you giving money that can be used for wellfare, government projects ect. Stock is the only one which doesn’t really help people, but even then you can buy stocks from a company and it will generate a cash inflow for them that can be used to hire people and stuff. So when you “save” money your still generally investing into the economy, even if you were to spend it on luxury.
In all honestly I don’t think either consumerism or investment significantly help the working class. If you want to do “moral” good with your money you should donate it to a non-profit you share values with. But personally its your money. You should do with it whatever makes you most happy either long term, short term, altruistic or “selfish”.
Latest Answers