Money Enough/Rediscovering Values

In 2008, just as the phenomenon that we’ve come to call the Great Recession was showing up on the cover of the New York Times, I asked a friend who lives in a poor neighborhood how the downturn in the economy was affecting his neighbors. “Economic downturn?” he joked. “My neighborhood is recession proof.” It was true enough at the time: unemployed renters weren’t feeling the heat from foreclosures and a tanking stock market. It’s hard to lose a 401(k) if you’ve never had one. Still, my friend and I both knew that his quip was a case of gallows humor. The rich don’t take a hit without the poor feeling it soon enough.

 

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