Would it help or hurt the economy if we only paid bills and bought food?

Question

If we stopped buying toys & luxuries & only bought must have items.....

Answer 1

It would hurt it for most... might help a few banks, though. Now if you were to include reducing taxes, reducing government waste, reducing government size, etc, then the economy would boom. Government does precious little to earn it's keep. Reducing taxes has been shown to be quite effective in the past at stimulating the economy.... people have more of their hard earned money to spend.

Here's another thought for you.... What if.... WHAT IF people ate healthy, exercised, and kept their weight down? There would be far less need for hospitals, doctors, big pharmaceutical companies, and such. There would be a huge negative impact in the health care industry. The only ones who would benefit, besides the healthier population, would be the medical insurance companies... they wouldn't have to pay nearly as many claims. There would be far less absentees at work, more production would result, the general economy would soar.

Answer 2

It would hurt the economy for many reasons.

1. There are many businesses that do not sell food.
2. The employees and owners would be forced onto the street.
3. The job market would be overcrowded
4. people would not have houses, or under this situation medicine, so many would needlessly die.
5. There would be dead laying in the street ( we hav not bought shovels or coffins in this situation). This would destroy any form of tourism.
6. people need trinkets and gadgets to maintain intelligence, so, in this scenario, the human race would become mere and more stupid, causing war ( which would be relatively primitive as we would no longer be able to buy weaponry).

Answer 3

Hurt it. Fewer businesses, fewer jobs, less money circulating.

Answer 4

Yes.