Thinking about the Economy

To me the economy is about as simple as Chinese or Gaelic (I know the complexities of Irish-Gaelic firsthand and all I can say in Chinese is "hello"). So I am no expert, but there are still some things I can say about it. First of all, the economic crash of mid 2008 was stunning and terribly affected the Greater Cleveland area (we had actually been in a recession for a few years in Ohio before the terrible panic hit). We are still not out of it, especially in the housing and construction areas. But things are much, much better. Cars are selling, restaurants are full, traffic is back to normal, and businesses are hiring. Schools, cities, and the state of Ohio are still suffering, with layoffs and huge budget cutbacks looming (that won't help the state's economy or job situation). But we are coming out of it, thanks in part to the huge governmental intervention that was begun by President George W. Bush and his economic team then continued by President Barack Obama and his team. I believe their brave actions saved us from the precipice. Who knows what a worldwide collapse would have wrought. I think it might have brought on another Great Depression and the terrible war that followed. Bush and Obama's actions were brave because in the end they would not be popular. But that's what leaders do--they make the best decisions using the best advice--and let the chips fall where they will.

So I am glad we are back from the edge of the cliff. And I hope that jobs will be there for my students, my children, and all my family. I am both grateful and uneasy about the economy of the world as we now see it. It often seems so against our religious and moral values--indeed, often against our self-interest. It promotes consumption and greed and materialism. It seems to promote violence and war.

I wonder if there is an alternative.