Often we hear the phrase, ‘the consumer is 2/3 of the economy’, or ‘we need the US/Chinese/EZ consumer to step up’. But is there such a thing as a ‘Consumer’ in isolation? Is a person's role as producer not more important? What part do interest rates play? Capital? Entrepreneurs? The State?
First presented as the “Cantillon Effects” podcast ‘Consuming Folly: Pts I & II’ via Apple, Spotify, and SoundCloud.
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