Hey Big Spender, Flaunt Your Scrimping

Greed is good, as long as it's in the name of frugality
By Wesley Oliver,  Newser Staff
Posted Feb 21, 2009 3:42 PM CST
Hey Big Spender, Flaunt Your Scrimping
"Making things even more tricky is the fact that a recession is a great opportunity to splurge -- you just get so much more for your Benjamins," Chris Ayres writes.   (Shutter Stock)

Recessions would be great for the rich—whose wealth insulates them from mercurial fluctuations in the economy—if it weren’t for the guilt they feel over rising poverty. But Chris Ayres has a solution for the loaded that may also revive the economy: “Flaunt your parsimony,” he advises in the Los Angeles Times, because “without spending, we all go bust.”

Calling his Keynes-inspired theory "conspicuous thrift,” Ayres urges the wealthy to splurge on money-saving items—pricey hybrid sedans and eco-friendly homes come to mind—while appearing to be cash-strapped like the rest of us. “Mark my words,” Ayres writes, “the second I get some cash, I'm off to buy some hens, hire a farmer, take out a mortgage on a ranch and congratulate myself on how cheap I get my eggs.”
(More recession stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.