Economies of Belief

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Saturday morning, I played catch-up, reading several days worth of Wall Street Journals. And as I took in bad news after bad news from those gray pages, I began to wonder whether this economic desert we’re inhabiting isn’t in some way perpetuated by simple belief.

 What I mean is, if you believe times are really, really bad, then you’re likely to hold your purse strings tightly closed. You won’t take that trip to Disney you’d hoped to surprise the kids with and you won’t buy new furniture because you want to hold on to any extra money. In turn, this lack of spending feeds the notion that the economy is sinking, and so you rein it in more, and the cycle continues.


So is the bad economy part real, part belief-promoted?

Just wondering…

  2 comments for “Economies of Belief

  1. TAP
    December 12, 2008 at 9:21 am

    So true. Fear washes through the economy, causing spending to drop, which in turn leads to more layoffs and more foreclosures. It’s a positive feedback loop.

    I have been telling people I know, “If you have money, spend it!”

  2. December 14, 2008 at 11:36 am

    Definitely. Think about the stock market, how often it flies high or tanks on expectations alone. I was surprised the market didn’t rise after Obama was elected, though. Our beliefs are powerful and create our reality.
    I always liked this quote by Anais Nin:
    “We don’t see things as they are, we see things as we are.”

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