Listening to CBC radio this morning as usual. Today’s episode of The Invisible Hand, called the Paradox of Thrift, looks at how austerity can worsen the economic situation. Definitely something to think about, especially in light of Harper cutting so many government jobs and offloading services, and the Bank of Canada constantly scolding us about our debt levels. So what are we supposed to do? I’m tightening my belt, looking for ways to spend less and not taking out loans in order to buy goods or services. While this approach is the best for me, apparently it is not a helpful for the overall economy. Definitely worth a listen, though it doesn’t come to any hard conclusions.
And depressingly for those of us just squeaking by, wealth apparently equals health. I’m not personally all that worried about this (despite having spent the last month fighting a virus). My inability to find a family doctor causes me much more anxiety. Although the article doesn’t talk about access to health care, the CMA study says it is one of the top three factors affecting a person’s health.
What is interesting about both of these is that they highlight the integrated nature of economies; we go about our lives making choices that seem best for us, but we’re really operating in a much larger context and are heavily impacted by government policies and decisions.