Amid Data, a Search for Meaning
As we review a steady stream of numbers that show an improving economy, this op-ed in The New York Times offers us an interesting glimpse at the meaning of prosperity. Arthur C. Brooks, president of the American Enterprise Institute, argues that abundance can be useful when practiced in balance with a healthy lack of attachment.
“For those living paycheck to paycheck,” writes Brooks, “a focus on money is understandable. But for those of us blessed to be above poverty, attachment to money is a means-ends confusion. Excessive focus on your finances obscures what you are supposed to enjoy with them.”
We are looking forward to additional data later this week, notably Wednesday’s release of the Consumer Price Index, and AIER’s own analysis of that data, the Everyday Price Index, which measures the impact of movements in the economy on individual households and businesses. But this sort of step-back look can be useful in putting all this data in the widest possible perspective.