Word: frugalities
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Third, King Abdullah, though often criticized as being too "frugal," has stuck to sensible spending. It is this that has saved Saudi Arabia. Even the ambitious economic cities that were announced at the end of 2005 were private-sector initiatives, not state-financed ones...
...gender and income. Young people are much more likely to borrow money from family or friends than older people are, and men are more optimistic than women. In the end, no matter when people think we'll come out of this recession, most say they will continue their new frugal habits...
...downturn. A college-admissions officer, watching families reassess their means and ends, suggests that maybe the insane competitiveness will recede. The yoga instructor says living more simply relaxes us, as if the entire country needs to slow its breathing. The buyer at the used-car lot feels both frugal and green: that hatchback isn't used, it's "pre-owned," and this counts as recycling. The discount shoppers view their task as a scavenger hunt and take a certain pride in finding the bargain, cutting the deal; 23% of us are haggling more, a profitable contact sport...
Since shoppers with bigger bills are less likely to make purchases, frugal consumers can carry hundreds as a form of self-control. From a recession-fighting perspective, however, self-control is Satan. The U.S. government is desperate for consumers to start spending again. So maybe the Obama Administration is approaching the economic stimulus the wrong way. Forget about tax cuts and grants to state governments. Just give people a bunch of $1 bills...
...more frugal world, it's all about getting more bang for the buck. Consider Puaramita Acharji, a West Bengali woman who joined Unilever's Shakti program several years ago and now earns about $14 a month selling items in her village door-to-door. Small as that sum might be, Acharji says it has changed her life. Instead of being dependent on her husband, Acharji says, she now commands respect in the village. "It is enough to stand on my own two feet," she says. Increasingly, CSR programs will have to do the same...