FREE WHITEWATER

Daily Bread for 4.4.24: Economics to Socio-Economics to Chronic Hardship

Good morning.

Thursday in Whitewater will see scattered morning snow showers with a high of 41. Sunrise is 6:29 and sunset 7:25 for 12h 56m 44s of daytime. The moon is a waning crescent with 23.6 percent of its visible disk illuminated.

The Whitewater Common Council meets tonight at 6:30 PM

On this day in 1949, twelve nations sign the North Atlantic Treaty creating the North Atlantic Treaty Organization.


Consider the claim, in a comment at FREE WHITEWATER from two days ago, that some in the retail and service sector in the city (and other area communities) would find lack of confidence akin to low confidence “not in the height of the 2008 recession but certainly in its lingering aftermath.” 

What to make of the claim?

It’s accurate, that’s what.

The Great Recession (2007-2009), more even than the pandemic, was and remains the most important economic event of our time. (The pandemic had immediate and tragic consequences for many lives, but it was the failure to address the Great Recession’s effects that set Whitewater and other places on their economic and socio-economic course.)

Whitewater, in particular, could not have had worse leaders than the ones from that time in grasping and responding to the Great Recession. A few are still around, as feckless and ineffectual as they were then.  

How to think of that time: like a man with a disease untreated, or a broken bone left unset: other maladies or deformities have sprung from the failure to treat effectively the original condition. 

Some of us have, of course, done well even in hard times for others, as an earlier generation did even during the Great Depression. 

Can we who have done well not see that, in our very community, there are longtime residents who through necessity now barter for diapers, baby food, and small appliances? 

That’s hardship for them and policy failure for us. (For advocates of free markets, like this libertarian blogger, these questions arise: did markets reach everyone, if they did not why not, and if they did why were they ineffective in specific cases?)  

Greatly simplified (as these are not wholly separate forces): Economic loss leads to socio-economic dysfunction and socio-economic dysfunction leads to community fragmentation, strife, and chronic hardship.


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