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  • Recession-Era America: Rich in Love?


    Jessica nails the millionaires-playing-at-poverty trope so beloved by the New York Times Style section of late. But for sheer editorial laziness nothing beats the recession-as-moral-uplift story. Here is Washington Post columnist Michael Gerson explaining that recessions might free us from the shackles of consumerism and "expand our horizonslike an escape from the dungeon of our own desires." Here is the New York Times' Shaila Dewan explaining that forced time off might "work as a kind of recalibration" for Americans who too often choose "money over time." Here is Main Street explaining that "recessions can often bring families together."

     I suppose that some downwardly mobile families really will rally around the campfire for a recession-fueled round of "Kumbaya." But the poverty-as-familial-bonding-mechanism narrative has some serious problems, the most obvious being that divorce rates tend to jump and birth rates tend to fall during economic downturns. (Gerson's column makes a very big deal about the fact that the divorce rate fell during the Great Depression, but this is atypical.) Self-reported measures of subjective well-being have plummeted since the start of the financial decline, suggesting that partners and parents are more anxious than they were in times of plenty. And, of course, less disposable income also means less spending on family vacations, day trips, and romantic evenings out. There seems to be some idea, lodged deep in the American psyche, that moneyed people spend all of their time alone in bathtubs full of cash. As it happens, Americans spend quite a bit on consumption experiences enjoyed as families. "Cutting back" surely means cutting back on these expenditures as well. I would not pin my hopes on an upsurge in family whittling.

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